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Oil prices edge lower with investors cautious ahead of U.S. data

Thursday, 4 January 2024 01:20 WIB | Oil

Oil prices dipped slightly on Wednesday after sharp moves earlier in the week, with investors cautious about the U.S. economy amid supply disruptions from persistent tensions in the Red Sea. Brent crude fell 39 cents to $75.50 a barrel by 1056 GMT, while U.S. West Texas Intermediate crude futures...

Oil prices jump after U.S. forces repel Houthis in Red Sea

Tuesday, 2 January 2024 21:57 WIB | Oil

Oil prices jumped in the first session of the New Year, boosted by the chances of Middle East supply disruptions after a naval clash in the Red Sea, as well as hopes of strong holiday demand and an economic stimulus in China, the top importer of crude. Brent crude rose $1.28, or 1.7%, to $78.32 a...

Oil prices to end year 10% down, traders expect a better 2024

Friday, 29 December 2023 20:26 WIB | Oil

Oil prices are set to end 2023 about 10% lower, the first annual decline in two years, after geopolitical concerns, production cuts and global measures to rein in inflation triggered wild fluctuations in prices. Brent crude futures were up 48 cents, or 0.6%, at $77.63 a barrel at 0523 GMT on...

Oil Set for Annual Loss as OPEC+ and War Fail to Support Prices

Friday, 29 December 2023 14:24 WIB | Oil

Oil headed for the biggest annual drop since 2020 as war and OPEC+ production cuts failed to lift prices, with traders concerned that global crude supplies may still eclipse demand in the quarters to come. West Texas Intermediate held above $72 a barrel, on course for weekly, monthly and...

Oil prices stabilise as Red Sea transport disruptions ease

Thursday, 28 December 2023 19:07 WIB | Oil

Oil prices steadied on Thursday after falling sharply in the previous session, as concerns eased about shipping disruptions along the Red Sea route even as tensions in the Middle East continued to rise. Brent crude futures inched up 10 cents, or 0.1%, to $79.75 a barrel by 0424 GMT, while U.S....

Oil Holds Decline on Signs of Further Build in Crude Stockpiles

Thursday, 28 December 2023 15:07 WIB | Oil

Oil steadied after posting the largest drop in two weeks on signs of a US stockpile build coupled with weak technical indicators. West Texas Intermediate held above $74 a barrel after declining by 1.9% on Wednesday, with Brent crude near $80. The American Petroleum Institute reported...

Oil steady as market monitors Red Sea developments

Wednesday, 27 December 2023 19:36 WIB | Oil

Oil prices were little changed on Wednesday as investors monitored Red Sea developments, with some major shippers resuming passage through the area despite continued attacks and broader Middle East tensions. Brent crude futures dipped 5 cents, or 0.1%, at $81.02 a barrel by 0415 GMT, while U.S....

Oil Holds Large Gain as Fresh Red Sea Attack Puts Market on Edge

Wednesday, 27 December 2023 13:45 WIB | Oil

Oil held its largest gain in more than a week on rising tensions in the Middle East, with a fresh attack on shipping in the Red Sea prompting vessels to avoid the key shipping route. West Texas Intermediate traded above $75 a barrel after rising by 2.7% on Tuesday, with global benchmark...

Oil Holds Soft Tone on Oversupply Worries Ahead of Fed Meeting

Wednesday, 13 December 2023 22:51 WIB | Oil

Oil prices extended losses on Wednesday, after falling by more than 3% to six-month lows on oversupply and demand concerns. Brent crude futures for February fell 33 cents, or 0.45%, to $72.91 a barrel by 0621 GMT. U.S. West Texas Intermediate crude futures for January dropped 29 cents, or 0.42%,...

Oil prices rise, but still headed for another weekly loss

Saturday, 9 December 2023 01:39 WIB | Oil

Oil was rising for the first time in seven sessions on Friday, with some attributing the lift to verbal support by Russia and Saudi Arabia. Prices were still headed for a seventh straight weekly loss. West Texas Intermediate crude for January delivery rose $1, or 1.4%, to $70.34 a barrel after...

Oil prices attempt bounce after sliding to 5-month lows

Friday, 8 December 2023 02:29 WIB | Oil

Oil futures rose Thursday, attempting a bounce after a five-day slide that sent the U.S. benchmark back below the $70-a-barrel threshold in the previous session, as crude ended at its lowest since late June. West Texas Intermediate crude for January delivery rose 41 cents, or 0.6%, to $69.79 a...

Oil rises as markets weigh OPEC+ cuts against China demand concerns

Wednesday, 6 December 2023 21:49 WIB | Oil

Oil prices rose slightly in Asian trade on Wednesday, after posting losses for four sessions, as investors weighed the effectiveness of an extension in OPEC+ cuts on tightening supplies against worries of a worsening demand outlook in China. Brent crude futures climbed 17 cents to $77.37 a barrel...

Oil down as uncertainty over OPEC+ supply cuts, demand growth weigh

Monday, 4 December 2023 21:46 WIB | Oil

Oil futures reversed course after rising briefly on Monday amid persistent pressure from the OPEC+ decision and uncertainty over global fuel demand growth, although the risk of supply disruptions from the Middle East conflict limited the losses. Brent crude futures were down 0.9%, or 73 cents, to...

Oil prices rally on hopes of deeper production cut as traders monitor OPEC+ meeting

Friday, 1 December 2023 01:56 WIB | Oil

Oil futures rose Thursday as investors awaited the outcome of an online meeting of OPEC+ members that news reports said may produce a round of deeper production cuts for early 2024. West Texas Intermediate crude for January delivery, 0.78% rose $1.35, or 1.8% to $79.25 a barrel on the New York...

Oil rises on weak dollar, OPEC+ output cut expectations

Tuesday, 28 November 2023 23:09 WIB | Oil

Oil prices rose on Tuesday, supported by a weak dollar and expectations that the OPEC+ producer group would deepen and extend output cuts due to concerns over subdued demand. Brent crude futures were up 57 cents, or 0.7%, to 80.55 a barrel at 0845 GMT, on track to snap a four-day losing streak....

Oil Holds Decline as OPEC+ Dispute Clouds Outlook for Production

Friday, 24 November 2023 15:24 WIB | Oil

Oil held the bulk of a decline after the OPEC+ alliance was forced to delay a critical meeting amid a dispute over output quotas, casting a pall of uncertainty over the group’s production policy for next year. Global benchmark Brent edged higher to trade near $82 a barrel after dropping 1.3%...

Oil Slips, Dragged by OPEC Meeting Delay

Thursday, 23 November 2023 15:15 WIB | Oil

Oil slips in early Asian trade. The OPEC delayed its meeting as it seeks to resolve a disagreement over the output of African nations, according to delegates. OPEC and a group of Russia-led allies were slated to meet on Sunday to discuss production levels next year but the meeting has been pushed...

Oil Steady as US Stockpiles Take Center Stage Before OPEC+ Meets

Wednesday, 22 November 2023 15:03 WIB | Oil

Oil steadied, with signs of another stockpile build in the US coming ahead of an OPEC+ meeting on supply over the weekend. Global benchmark Brent held above $82 a barrel after ending modestly higher on Tuesday, while West Texas Intermediate was near $78. The American Petroleum Institute said...

Oil falls as demand concerns outweigh prospect of further OPEC+ cuts

Tuesday, 21 November 2023 18:56 WIB | Oil

Oil futures fell on Tuesday, reversing the previous day's rally, as concerns over weaker demand amid a slowing global economy outweighed the prospect of deepening supply cuts by OPEC and its allies such as Russia. Brent crude futures fell 36 cents, or 0.4%, to $81.96 a barrel by 0439 GMT while...

Oil Holds Two-Day Advance on Speculation OPEC+ May Deepen Curbs

Tuesday, 21 November 2023 15:11 WIB | Oil

Oil held a two-day gain amid speculation that OPEC+ could deepen production curbs when members gather this coming weekend. Global benchmark Brent steadied above $82 a barrel after rising more than 6% over the prior two sessions, while West Texas Intermediate held below $78. US oil...

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