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Oil Rises on Weaker Dollar, IEA Demand Upgrade

Friday, 15 December 2023 02:00 WIB | Oil

Oil prices rose on Thursday, extending the previous session's gains, boosted by a weaker dollar and as the International Energy Agency (IEA) lifted its oil demand forecast for next year. Brent futures were up $1.42, or 1.9%, to $75.68 a barrel at 1131 GMT. U.S. West Texas Intermediate (WTI) crude...

Oil Rises on U.S. Inventory Draw, Dollar Weakness

Thursday, 14 December 2023 23:29 WIB | Oil

Oil prices rose on Thursday, extending the previous session's gains, on a bigger-than-expected weekly withdrawal from U.S. crude storage and a weaker dollar after the U.S. central bank signalled lower borrowing costs for 2024. Brent futures was up $1, or 1.3%, to $75.26 a barrel as of 0900 GMT....

Oil Prices Stable Around Six-Month Lows

Thursday, 14 December 2023 02:31 WIB | Oil

Oil prices were little changed on Wednesday, after falling by more than 3% to six-month lows in the previous session on oversupply and demand concerns. Brent crude futures for February were up 6 cents, or 0.08%, to $73.30 a barrel at 1142 GMT. U.S. West Texas Intermediate crude futures for...

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 Slips as Oversupply Concerns Offset Production Curbs

Wednesday, 13 December 2023 01:43 WIB | Oil

Oil edged lower as continuous pressure from robust supplies globally countered curbs by the OPEC+ alliance. Global benchmark Brent traded near $76 a barrel. Futures last week dipped to a multi-month low on soaring output from producers outside of the Organization of Petroleum Exporting...

Oil Rises Ahead of Interest Rate Decisions, Oversupply Fears Linger

Tuesday, 12 December 2023 22:02 WIB | Oil

Oil prices ticked up on Tuesday but investors remained cautious ahead of key interest rate decisions and inflation data releases, while concerns over excess supply and slowing growth in demand kept a lid on gains. Brent crude futures for February were up 47 cents, or 0.6%, at $76.50 a barrel as...

Oil Extends Gains on US Strategic Reserve Purchases

Monday, 11 December 2023 21:51 WIB | Oil

Oil prices rose 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 persisted. Brent crude futures rose 0.7%, or 56 cents, to $76.40 a barrel by 0735...

Oil Heads for 7th Weekly Loss as Supply surplus, Weak China Demand Weigh on Market

Friday, 8 December 2023 22:06 WIB | Oil

Oil benchmarks were headed for a seventh straight weekly decline on worries over a global supply surplus and weak Chinese demand, although prices recovered ground on Friday after Saudi Arabia and Russia called for more OPEC+ members to join output cuts. Brent crude futures rose $1.54, or 2.1%, to...

Oil Slips as Markets Weigh OPEC+ cuts Against China Demand Concerns

Thursday, 7 December 2023 02:14 WIB | Oil

Oil prices fell Wednesday, as investors weighed the effectiveness of an extension in OPEC+ cuts in tightening supply against a worsening demand outlook in China. Brent crude futures fell 80 cents, or 1%, to $76.40 a barrel. U.S. WTI crude futures fell by 81 cents, or 1.1%, to $71.54 a...

Oil Prices Edge Lower after 3-Day Losing Streak

Wednesday, 6 December 2023 02:16 WIB | Oil

Oil futures on Tuesday threatened to extend their losing streak to a fourth session, extending a decline attributed in part to skepticism over the ability of OPEC+ to deliver on additional production cuts early next year. West Texas Intermediate crude for January delivery was off 9 cents, or...

Oil Prices Little Changed amid OPEC+ cut Doubts, Mideast Tension

Tuesday, 5 December 2023 22:10 WIB | Oil

Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by the OPEC+ group of producers, tensions in the Middle East and weak economic data from the U.S.. Brent crude futures inched up 14 cents to $78.17 a barrel by 0735 GMT, while U.S. West Texas Intermediate crude futures...

Oil Prices Drop 1% as Doubts Linger over OPEC+ Production Cuts

Tuesday, 5 December 2023 02:14 WIB | Oil

Oil futures fell Monday, building on a decline last week that came after a round of voluntary production cuts announced by OPEC+ left traders skeptical about compliance. West Texas Intermediate crude for January delivery fell 76 cents, or 1%, to $73.31 a barrel on the New York Mercantile...

Market Review Friday, December 1, 2023

Saturday, 2 December 2023 11:00 WIB | Market update

Nikkei Tokyo's key Nikkei 225 index ended lower on Friday, with a dearth of fresh market-moving events and some profit-taking weighing on the market. The benchmark Nikkei 225 index slipped 0.17 percent, or 55.38 points, to 33,431.51, while the broader Topix index ended up 0.32 percent, or 7.59...

Oil Prices Set for Sixth Straight Weekly Fall as OPEC+ Cuts Underwhelm

Friday, 1 December 2023 18:11 WIB | Oil

Oil prices extended losses on Friday, and looked set for a sixth straight week of declines, as voluntary oil output cuts agreed by OPEC+ producers fell short of market expectations. Brent crude futures for February fell 39 cents, or 0.5%, to $80.47 a barrel by 0345 GMT. U.S. West Texas...

Oil Prices Fall on Weak Demand Indicators, China Data

Thursday, 30 November 2023 17:26 WIB | Oil

Oil prices fell in early Asian trade on Thursday on weaker-than-expected Chinese manufacturing data, but investors maintained caution ahead of an OPEC+ meeting where production cuts are expected. Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas...

Oil Holds Two-Day Advance Ahead of High-Stakes OPEC+ Meeting

Thursday, 30 November 2023 13:54 WIB | Oil

Oil steadied after a two-day advance as traders count down to a key meeting that may see OPEC+ extend or deepen production cuts. West Texas Intermediate traded below $78 a barrel, after rising 4% over the previous two sessions. Global benchmark Brent was above $83. OPEC+ heavyweight Saudi...

Oil Prices Extend Gains on OPEC+ cut Bets, more Supply Disruptions

Wednesday, 29 November 2023 16:10 WIB | Oil

Oil prices rose in Asian trade on Wednesday, extending gains from the prior session as traders bet on more production cuts being announced at an OPEC+ meeting this week. A weaker dollar, following less hawkish comments from Federal Reserve officials, also aided oil markets, as did supply...

Oil Extends Climb With OPEC+ Meeting and Weaker Dollar in Focus

Wednesday, 29 November 2023 13:58 WIB | Oil

Oil edged higher as traders counted down to a key OPEC+ meeting on supply, and weighed signs that the Federal Reserve is done hiking interest rates. West Texas Intermediate rose toward $77 a barrel after rallying by more than 2% on Tuesday, with global benchmark Brent near $82. The producer...

Oil on Track to Snap Losing Streak on Hopes of Further OPEC+ Cuts

Tuesday, 28 November 2023 16:09 WIB | Oil

Oil prices rose on Tuesday, snapping a multi-session losing streak ahead of a crucial meeting of OPEC+, which is widely expected to deepen and extend cuts to oil production amid fears of supply being consistently higher than demand. Brent crude futures were up 45 cents, or 0.6%, at $80.43 a...

Oil Edges Higher With Chance of Deeper OPEC+ Cuts in Focus

Tuesday, 28 November 2023 13:58 WIB | Oil

Oil edged higher after a string of losses as the market weighed the possibility of deeper output cuts from OPEC+ against signs supply is running ahead of demand. West Texas Intermediate traded near $75 a barrel, while global benchmark Brent was close to $80. WTI briefly rose...

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