DJIA27219.52
LIVE35.37(0.13%)
NDX7892.96
LIVE-24.38(-0.31%)

Oil Holds Gains as Geopolitical Tension Belies Bearish Signals


Tuesday, 9 April 2019 10:29 WIB

Minyak WTIbrent oilOil,Crude Oil


c_740_198_16777215_00_images_assets_Oil3_sejarah-minyak-bumi-dan-senyawa-kimia-yang-terkandung-di-dalamnya.jpg

Oil held its gain after closing at the highest level since October as an escalation of geopolitical conflicts in Libya and Iran belied technical indicators suggesting the rally is overdone.

Futures were steady in New York after gaining 3.7 percent over the previous two sessions. Fighter jets bombed the Tripoli airport in OPEC producer Libyaand U.S. President Donald Trump said he would designate Iran’s Revolutionary Guard a terrorist group. The 14-day relative strength index for West Texas Intermediate futures was at 77, above the 70 level that signals its in overbought territory.

WTI declined 3 cents to $64.37 a barrel on the New York Mercantile Exchange as of 9:57 a.m. in Singapore. It rose 0.6 percent to $64.77 earlier after advancing 2.1 percent to settle at $64.40 on Monday, the highest closing level since Oct. 31.

Brent for June settlement fell 14 cents to $70.96 a barrel on the London-based ICE Futures Europe exchange. The contract gained 1.1 percent to settle at $71.10 on Monday. The global benchmark crude was at a premium of $6.67 to WTI for the same month.

Source : Bloomberg


RELATED NEWS

  • Barely a week after appearing like they'd won the market back, oil bulls were at a loss again on Thursday as crude prices tumbled for a third-straight day on concerns that sanctioned Iranian supplies ...

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.