Sunday, 14 September 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Prices Little Changed Ahead Of Sino-U.S. Trade Talks
Friday, 9 May 2025 11:07 WIB | OIL |Minyak WTIbrent oil

Oil prices were little changed on Friday morning after rising more than 3% in the previous session, as trade tensions between top oil consumers the U.S. and China showed signs of easing and Britain announced a "breakthrough" trade deal with the United States.

Brent crude rose 7 cents, or 0.1%, to $62.91 a barrel while U.S. West Texas Intermediate crude rose 7 cents, or 0.1%, to $59.98 a barrel by 0121 GMT. On Thursday, Brent closed up 2.8%, or $1.72, and WTI gained 3.2%, or $1.84.

U.S. Treasury Secretary Scott Bessent will meet with China's top economic official, Vice Premier He Lifeng, in Switzerland on May 10 to try to resolve a trade dispute that has threatened growth in crude consumption. Separately, U.S. President Donald Trump and British Prime Minister Keir Starmer announced that Britain had agreed to lower tariffs on U.S. imports to 1.8% from 5.1%. The U.S. cut tariffs on British cars but kept 10% tariffs on most other goods.

Elsewhere, the Organization of the Petroleum Exporting Countries and its allies - or OPEC+ - are planning to increase output, which could weigh on oil prices. A Reuters survey found that OPEC oil output fell slightly in April as output cuts in Libya, Venezuela and Iraq outweighed planned output increases.

Tighter U.S. sanctions on Iran could curb supply and push prices higher. Sanctions on two small Chinese refiners for buying Iranian oil have made it difficult for them to receive crude and forced them to sell their products under alternative names, sources told Reuters on Thursday. (Newsmaker23)

Source: Reuters

RELATED NEWS
Oil gains weighed down by US demand worries...
Saturday, 13 September 2025 03:48 WIB

Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled a...

Oil Prices Rise as Ukrainian Drone Strikes Hit Key Russian Baltic Hubs...
Friday, 12 September 2025 19:23 WIB

Oil prices continued their rally amid growing concerns that Ukrainian drone attacks could disrupt oil flows through Russia's two most important crude export hubs on the Baltic coast. Brent crude rose...

Oil prices steady as oversupply expectations offset production risks...
Friday, 12 September 2025 16:07 WIB

Oil prices held steady on Friday (September 12th) as concerns about oversupply and weakening U.S. demand offset the risk of supply disruptions stemming from conflicts in the Middle East and Ukraine. ...

Oil Holds Drop as IEA Puts Glut Back in Focus After OPEC+ Hikes...
Friday, 12 September 2025 07:04 WIB

Oil held a decline after the International Energy Agency projected an even bigger surplus next year, with the bearish outlook offsetting concerns about geopolitical tensions from the Middle East ...

Oil prices slide 2% on oversupply, weaker US demand...
Friday, 12 September 2025 01:54 WIB

Oil prices slid about 2% on Thursday on concerns over softening U.S. demand and broad oversupply that offset threats to output from the conflict in the Middle East and the war in Ukraine. Brent crude...

LATEST NEWS
EUR/USD steadies as Fed rate cut bets firm amidst US labor market concerns

EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...

Bessent met with BlackRock's Rieder as search for next Fed chair continues

U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...

Oil gains weighed down by US demand worries

Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....

POPULAR NEWS
IMF says Fed has scope to lower interest rates
Friday, 12 September 2025 01:38 WIB

The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...

Breaking News: US CPI Inflation Rises to 2.9% in August, Matching Forecasts
Thursday, 11 September 2025 19:44 WIB

Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...

PPI Cools, Fed Cut Speculation Rises
Thursday, 11 September 2025 07:43 WIB

Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation...

Michigan Consumer Sentiment Index Expected to Weaken Further in September
Friday, 12 September 2025 19:39 WIB

The University of Michigan (UoM) is expected to release the preliminary reading of its monthly Consumer Confidence Index for September on Friday....