DJIA27679.28
LIVE29.50(0.11%)
NDX8308.40
LIVE11.87(0.14%)

Oil Prices Trade Higher as China Calms Trade Tensions


Thursday, 29 August 2019 18:59 WIB

MinyakWTIBrentMinyak MentahOil,Minyak Berjangka


c_740_198_16777215_00_images_assets_OIL2_harga-minyak-mentah-dunia-tergelincir-saat-stok-as-bertambah-Uzo.jpg

Oil prices traded higher on Thursday as China de-escalated trade tensions with Washington, confirming preparation talks for renewed trade negotiations.

New York-traded West Texas Intermediate crude futures gained 42 cents, or 0.8%, to $56.20 a barrel by 7:34 AM ET (11:34 GMT), while Brent crude futures, the benchmark for oil prices outside the U.S., rose 6 cents, or 0.1%, to $59.99.

China's Commerce Ministry confirmed overnight that Beijing and Washington were discussing the scheduling of face-to-face trade negotiations in September. Ministry spokesperson Gao Feng repeated the call to “create conditions” for progress, saying discussions should focus on removing new tariffs to prevent escalation and resolve issues calmly.

Even if the remarks provide no sign of imminent resolution, the suggestion of de-escalation in the Chinese stance appeared to send a sigh of relief through financial markets.

Source : Investing.com


RELATED NEWS

  • Oil prices rose on Thursday ahead of an OPEC meeting where members are expected to agree on deeper output cuts in an effort to prop up prices and prevent a glut next year. Sources told Reuters that O...
  • Oil gained on Wednesday ahead of an expected extension to production curbs by OPEC and its allies, with further support from industry data showing a larger than forecast drop in U.S. crude stockpiles....
  • U.S. benchmark oil futures settled higher for a second straight session on Tuesday as traders weighed the possibility that the Organization of the Petroleum Exporting Countries and its allies, known a...

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.