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CRUDE OIL

Oil Rallies to Highest Since November on OPEC+ Supply Reductions
Monday, 4 September 2023 13:19 WIB | Oil

Oil extended its rally to hit the highest level since November on expectations that supply cuts by OPEC+ leaders will tighten the market. West Texas Intermediate climbed for an eighth straight session, an advance that includes last week’s gain of more than 7%. Underlying metrics,...


Market Review Thursday, August 24, 2023
Friday, 25 August 2023 10:14 WIB | Market update

Nikkei Tokyo stocks ended higher Thursday on the back of a retreat in US bond yields, although investors were cautious ahead of a speech by Federal Reserve chief Jerome Powell. The benchmark Nikkei 225 index was up 0.87 percent, or 276.95 points, to end at 32,287.21, while the broader Topix...


U.S. Oil Futures Settle Higher a Day After Posting Their Lowest Finish in a Month
Friday, 25 August 2023 08:24 WIB | Oil

Oil futures inched higher on Thursday, recouping a small portion of losses from a day earlier that pulled prices to their lowest finish in a month. Oil bulls will need to see “renewed evidence of a soft/no-landing scenario in coming global economic releases and better growth metrics overseas,”...


Oil Falls as Venezuela, Iran Thaw Undercuts Supply Concerns
Thursday, 24 August 2023 08:28 WIB | Oil

Crude futures fell as signs of a thaw in US relations with sanctioned oil producers Iran and Venezuela undercut expectations of tightening global supplies. West Texas Intermediate fell below $79 to the lowest closing price in more than a month. The Biden administration is...


Market Review Monday, August 21, 2023
Tuesday, 22 August 2023 09:51 WIB | Market update

Nikkei Tokyo shares ended a three-day losing streak to close higher on Monday, with bargain-hunting supporting the market. The benchmark Nikkei 225 index gained 0.37 percent, or 114.88 points, to end at 31,565.64, while the broader Topix index added 0.19 percent, or 4.20 points, to...


Oil Futures Mark First Decline in 3 Sessions
Tuesday, 22 August 2023 08:26 WIB | Oil

Oil futures settled lower on Monday, after posting gains in the past two trading sessions. “Demand concerns continue to limit total upside and have the market hesitant” to push far above the $80 a barrel mark, said Robbie Fraser, an analyst at Schneider Electric. West Texas Intermediate crude...


Oil Heads for Weekly Loss as China Concerns and Rate Angst Flare
Friday, 18 August 2023 22:30 WIB | Oil

Oil headed for its first weekly loss since June as concerns over economic weakness in China and potentially even tighter monetary policy in the US combined to overshadow signs of a solid physical market. West Texas Intermediate traded above $80 a barrel, set for a drop of about 3% this...


Oil Steadies as Traders Take Stock of China Concerns and Fed
Thursday, 17 August 2023 22:43 WIB | Oil

Oil steadied after a three-day drop spurred by concerns over the Chinese economy and the possibility of even tighter US monetary policy. West Texas Intermediate was little changed above $79 a barrel after shedding more than 4% this week. Worries over top importer China’s post-pandemic...


Oil Futures Erase Gains in London as Equities Drop on China
Tuesday, 15 August 2023 22:12 WIB | Oil

Oil futures erased gains in London and New York, tracking a reversal in equity markets. Brent slid by 23 cents to trade at $85.98 a barrel at 9:21 a.m. in London, dropping for a second day as concern about Chinese demand also weighs on prices. West Texas Intermediate slid to $82.14 a...


Oil Dips as Concerns About China Spur Volatility Across Markets
Monday, 14 August 2023 23:04 WIB | Oil

Oil edged lower in a volatile session where sentiment was being driven by renewed worries surrounding China’s property sector.  West Texas Intermediate fell as much as 1.5%, before paring those declines. Global markets earlier struck a risk-off tone on concerns around...


Oil Holds Near $83 as IEA Sees Consumption at a Record
Friday, 11 August 2023 22:34 WIB | Oil

Oil was on track to end the week little changed, after touching the highest since November in recent days, as the International Energy Agency’s monthly snapshot pointed to a robust market. West Texas Intermediate futures traded near $83 a barrel, virtually flat on the week. Global oil...


Oil Steadies Ahead of U.S. Inflation Data
Friday, 11 August 2023 01:04 WIB | Energy

Oil prices stabilized on Thursday as investor caution dominated ahead of inflation data expected to offer clues on U.S. interest rates. Brent crude dipped 12 cents to $87.43 a barrel by while West Texas Intermediate crude (WTI) edged down by 21 cents to $84.19. Both benchmarks have been on a...


Oil Steadies Ahead of US Inflation Data
Thursday, 10 August 2023 22:20 WIB | Oil

Oil prices steadied on Thursday as investor caution ahead of U.S. inflation data softened a protracted price rally on supply tightness. Brent crude edged up 14 cents to $87.69 a barrel by 0757 GMT while West Texas Intermediate crude (WTI) crept up by 1 cent to $84.5. Oil prices have been boosted...


Oil Holds Near Four-Month High Ahead of Report on US Stockpiles
Wednesday, 9 August 2023 20:25 WIB | Oil

Oil was steady — after closing at the highest since mid-April on concerns about a possible escalation of the conflict between Ukraine and Russia — ahead of data that may show swelling US crude stockpiles.  West Texas Intermediate futures traded near $83 a barrel after...


Oil Slips as Weak China Data Offsets Tightening Supply
Wednesday, 9 August 2023 01:04 WIB | Oil

Oil prices fell by more than 1.5% on Tuesday after data showed China's imports and exports fell much more than expected in July in yet another sign of a sluggish post-COVID rebound for the world's largest oil importer. Brent crude futures were down $1.33, or about 1.6%, at $84.01 a barrel at 1047...


Oil Dips After Sustained Rally Bolstered by Supply Cuts
Tuesday, 8 August 2023 01:06 WIB | Oil

Oil prices edged lower following a protracted rally, helped by top producers Saudi Arabia and Russia pledging to extend supply cuts through September, further tightening supplies. Both key benchmarks notching up their sixth consecutive weekly gains last week. On Monday, Brent crude futures...


Oil Coasts to Sixth Weekly Gain After Saudis, Russia Extend Cuts
Friday, 4 August 2023 16:58 WIB | Oil

Oil headed for a sixth straight weekly gain, the longest winning streak in more than a year, after OPEC+ heavyweights Saudi Arabia and Russia extended production cuts into next month and US stockpiles sank by a record. West Texas Intermediate climbed toward $82 a barrel, taking gains...


Oil Coasts to Sixth Weekly Gain After Saudi, Russia Extend Cuts
Friday, 4 August 2023 13:41 WIB | Oil

Oil headed for a sixth straight weekly gain, the longest winning streak in more than a year, after OPEC+ heavyweights Saudi Arabia and Russia extended production cuts into next month and US stockpiles sank by a record. West Texas Intermediate climbed toward $82 a barrel, taking gains...


Oil Prices Rise by Most in Nearly a Month
Friday, 4 August 2023 08:33 WIB | Oil

US crude futures post their largest one-day gain since July 7, climbing 2.6% to finish at $81.55 a barrel and leaving them nearly $1 higher for the week with one trading day left. The gains were largely in response to an announcement this morning by Saudi Arabia, extending its...


Oil Rises Marginally as Markets Weigh Inventory Data, U.S. Ratings Downgrade
Thursday, 3 August 2023 16:44 WIB | Oil

Oil prices rose slightly in early Asian trading on Thursday, as markets weighed bullish U.S. inventory data on Wednesday and a likely extension of OPEC+ output cuts against the fallout of Fitch’s downgrade of the U.S. government’s top credit. Brent crude futures rose 27 cents, or 0.32%, to...



European markets close slightly higher; Kingfisher rebounds after profit warning, Direct Line down 11%
Tuesday, 26 March 2024 00:07 WIB

European markets had a tentative start to the new trading week Monday, as investors continued to digest a number of central bank policy decisions in...

S&P 500 Rises Slightly, Tries to Recover from Back-to-Back Losses
Tuesday, 26 March 2024 20:38 WIB

U.S. stocks rose slightly Tuesday, as investors tried to resume the rally that took equities to record highs after a decline in the previous...

Market Review Tuesday, March 26, 2024
Wednesday, 27 March 2024 03:31 WIB

Nikkei Tokyo stocks ended flat on Tuesday as investors held out hope for gains in semiconductor-related shares while locking in profits after...

Market Review Monday, March 25, 2024
Tuesday, 26 March 2024 03:31 WIB

Nikkei Tokyo stocks closed lower on profit-taking, snapping a four-day winning streak on Monday, amid caution over the rapid rise of the key Nikkei...

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