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WTI

Oil Steady Near Lowest Since June With Oversupply Fears in Focus
Tuesday, 12 December 2023 14:09 WIB | Oil

Oil was steady near a five-month low with oversupply concerns in focus after OPEC+’s pledges to extend and deepen output cuts failed to halt a slump in prices. West Texas Intermediate traded above $71 a barrel, while global benchmark Brent was near $76. Skepticism that alliance members will...

Oil Extends Gains On US Strategic Reserve Purchase
Monday, 11 December 2023 16:58 WIB | Oil

Oil prices inched higher on Monday, extending gains for a second session as U.S. efforts to replenish strategic reserves provided some support, although concerns of crude oversupply and softer fuel demand growth next year lingered. Brent crude futures rose 11 cents, or 0.2%, to $75.95 a barrel by...

Oil Steadies After Glut Fears Drove Worst Losing Run Since 2018
Monday, 11 December 2023 14:07 WIB | Oil

Oil was steady after its longest weekly losing streak in five years that’s been driven by signs supply is starting to run ahead of demand. Brent traded below $76 a barrel, after logging seven weeks of declines, while West Texas Intermediate was near $71. A US plan to refill the Strategic...

U.S. Oil Futures Settle At Lowest Since Mid-November
Tuesday, 5 December 2023 09:40 WIB | Oil

Oil futures on Monday posted a third-straight session decline, with U.S. prices settling at their lowest since mid-November. Oil prices have remained under pressure on concerns over slowing demand, as well as some skepticism that the OPEC+ output cuts will hold, and the fact that U.S. production...

Brent Retreats Ahead Of OPEC+ Oil Production Decision
Friday, 24 November 2023 22:22 WIB | Oil

Brent crude futures edged down on Friday, extending losses from the previous session, as traders speculated on whether OPEC+ would come to an agreement on further production cuts. Brent crude futures inched down by 6 cents, or 0.07%, to $81.36 at 0400 GMT, after settling down 0.7% in the previous...

Oil Down More Than 1% As Uncertainty Swirls Over Delayed OPEC+ Meeting
Thursday, 23 November 2023 22:05 WIB | Oil

Oil prices fell by more than 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a ministerial meeting, leading to speculation that producers might cut output less than earlier anticipated. Brent futures were down $1.02, or 1.2%, at $80.94 a barrel by 0625 GMT, after...

Oil Retreats On Caution Ahead Of OPEC+ Meeting
Wednesday, 22 November 2023 03:11 WIB | Oil

Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the producer group may discuss deepening supply cuts due to slowing global growth. Both contracts had climbed about 2% on Monday after three OPEC+...

Oil Retreats On Caution Ahead Of OPEC+ Meeting
Tuesday, 21 November 2023 22:15 WIB | Oil

Oil futures fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the producer group may discuss deepening supply cuts due to slowing global growth. Brent crude futures fell 51 cents, or 0.6%, to $81.81 a...

Oil Rises On Expectations Of Further OPEC+ Supply Cuts
Tuesday, 21 November 2023 02:08 WIB | Oil

Oil futures rose more than $1 on Monday, extending gains on the prospect of OPEC+ deepening supply cuts to shore up prices after four weeks of decline on demand worries and concern over Middle East supply disruption owing to the Israel-Hamas conflict. Brent crude futures rose $1.18 to $81.79 a...

Oil Prices Head For Fourth Straight Week Of Declines As Supply Grows
Friday, 17 November 2023 21:58 WIB | Oil

Oil prices were little changed on Friday but on track for their fourth straight week of losses after tumbling about 5% to a four month-low on Thursday on worries over global demand. Brent futures edged up 7 cents, or 0.1%, to $77.49 a barrel at 0702 GMT. U.S. West Texas Intermediate crude (WTI)...

Oil Prices Slip On US Crude Build, China Demand Worries
Thursday, 16 November 2023 22:08 WIB | Oil

Oil prices fell on Thursday, extending losses from the previous session, as signals of higher supply from the United States met worries about lackluster energy demand from China. Brent futures were down 48 cents at $80.70 a barrel at 0630 GMT. U.S. West Texas Intermediate crude (WTI) shed 53...

Oil Dips On Prospect Of Peak US Production, Despite Strong Demand Signals
Thursday, 16 November 2023 00:48 WIB | Oil

Oil prices dipped on Wednesday amid signs the United States, the world's biggest oil producer, is at peak production, offsetting positive crude demand signals from top consumer China. Brent futures were down 34 cents to $82.13 a barrel at 0949 GMT, while U.S. West Texas Intermediate (WTI) crude...

Oil Steadies as IEA Sees Market Better Supplied Than Anticipated
Wednesday, 15 November 2023 02:29 WIB | Oil

Oil steadied as the International Energy Agency indicated the market isn’t as tight as previously expected, even as demand continues to climb. Brent traded just under $83 a barrel. The global benchmark is still up more than 3% from its closing price on Nov. 8, when it settled at the lowest...

Oil Rises On Healthy Demand, Supply Expectations After OPEC Report
Tuesday, 14 November 2023 22:25 WIB | Oil

Oil prices inched up on Tuesday on expectations of healthy market fundamentals, following an OPEC report saying demand remains strong, and concerns that supplies might be disrupted as the U.S. cracks down on Russian oil exports. Brent crude futures gained 23 cents, or 0.28%, to $82.75 a barrel by...

Oil prices settle higher after 3 consecutive weekly losses
Tuesday, 14 November 2023 09:27 WIB | Oil

Oil futures settled with a gain on Monday, extend their advance into a third session in a row, after posting losses in each of the last three weeks. In a note dated Sunday, analysts at Goldman Sachs said they "continue to believe that robust demand, slowing U.S. supply growth, and low OPEC supply...

Oil Steady On Caution Over Demand Outlook And Fed Rates
Tuesday, 14 November 2023 03:05 WIB | Oil

Oil prices held steady on Monday, with market caution heightened by waning demand in the United States and China as well as mixed signals from the U.S. Federal Reserve. Brent crude futures for January were up 19 cents at $81.62 a barrel by 1250 GMT, having lost $1 in early trading, while U.S....

Oil Falls On Weak Demand Outlook In US And China, Fed Hedging
Monday, 13 November 2023 22:20 WIB | Oil

Oil prices fell on Monday, erasing gains from Friday as renewed concerns over waning demand in the United States and China, coupled with mixed signals from the U.S. Federal Reserve, dented market sentiment. Brent crude futures for January were down 61 cents, or 0.75%, at $80.82 a barrel at 0800...

Oil Set for Third Weekly Drop as Demand Fears Outweigh War Risk
Friday, 10 November 2023 17:02 WIB | Oil

Oil headed for a third straight weekly drop on growing concerns over global demand and the unwinding of the war-risk premium, while Saudi Arabia blamed speculators for the decline.  Global benchmark Brent crude edged higher past $80 a barrel on Friday, but is down around 5% this week....

Oil Set for Third Weekly Drop With Demand Concerns Multiplying
Friday, 10 November 2023 13:50 WIB | Oil

Oil headed for a third straight weekly drop on growing demand concerns and the unwinding of its war-risk premium, with Saudi Arabia blaming speculators for the decline.  West Texas Intermediate was steady near $76 a barrel on Friday and is down around 6% for the week. Prices edged...

Oil Stable; Markets Shrug Off China Inflation Data, Eye Fresh Drivers
Thursday, 9 November 2023 19:18 WIB | Oil

Oil prices steadied on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world's two biggest oil consumers. Brent crude futures rose 8 cents, or 0.1%, to $79.62 a barrel by 0500 GMT. U.S. West Texas Intermediate (WTI)...


Fed's Powell: Restrictive Policy Needs Further Time to Work
Wednesday, 17 April 2024 00:53 WIB

Federal Reserve (Fed) Chairman Jerome Powell participates in a fireside chat about economic trends in North America at the Wilson Center's...

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New US Home Construction Falls to Lowest Level Since August
Tuesday, 16 April 2024 19:46 WIB

New home construction in the US slowed last month as consumers try to wait out high mortgage rates in hopes borrowing costs will ease later this...

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UK Unemployment Rate Climbs to 4.2% in Quarter to February vs. 4.0% Expected
Tuesday, 16 April 2024 13:24 WIB

The United Kingdom's (UK) ILO Unemployment Rate came in at 4.2% in the three months to February, rising from 3.9% in the previous period, data...

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S&P 500 Closes Lower As Powell Warns Rates Need To Stay High, Dow Snaps 6-Day Losing Streak
Wednesday, 17 April 2024 03:10 WIB

The S&P 500 wavered on Tuesday after Federal Reserve chair Jerome Powell said interest rates may need to stay elevated. The broad index lost...

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