DJIA27024.80
LIVE237.44(0.89%)
NDX7942.85
LIVE100.52(1.28%)

Oil Prices Linger Near 3-Month Highs as Crude Supply Appears in Check


Friday, 1 March 2019 21:32 WIB

MinyakWTIBrentOil,


c_740_198_16777215_00_images_assets_Oil3_Cushing1.530x298.jpg

Oil futures prices on Friday hovered near a three-month peak, amid signs that OPEC is adhering to its pledge to limit production.

Prices took to split paths on Thursday, with U.S. prices extending gains from a weekly drop in domestic crude supplies and global benchmark prices lower on weaker Chinese economic data, which fed concerns over a demand slowdown. That action leaves U.S. crude marginally higher on the week but Brent headed for a nearly 1% drop for the five-day stretch.

Both benchmarks, however, finished February higher, up a second consecutive month.

Early Friday, April West Texas Intermediate crude rose 14 cents, or 0.2%, to $57.37 a barrel on the New York Mercantile Exchange. The contract is set to gain about 0.2% for the week. Based on the front-month contracts, prices climbed 6.4% for the month of February, according to Dow Jones Market Data.

Global benchmark May Brent traded at $66.37, up 7 cents, or 0.1%, on ICE Futures Europe. The contract is down nearly 1% for the week. Front-month prices rose 6.7% for February.

Source : Marketwatch


RELATED NEWS

  • Oil prices fell further on Tuesday, after heavy losses in the previous session following two days of weak Chinese data and as investors continued to fret over prospects for a U.S.-China trade deal des...
  • One session is all it took for the optimism over U.S.-China trade talks to turn into pessimism. Crude oil prices settled down 2% on Monday after a Bloomberg report that China had more demands from th...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.