Oil Tanks Again as Iran Fears Top Resolute OPEC

Friday, 13 September 2019 02:50 WIB

MinyakWTIBrentMinyak MentahOil,


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 might come roaring back.

New York-traded West Texas Intermediate crude, the U.S. benchmark blend, settled down 66 cents, or 1.2%, at $55.09 per barrel as OPEC's vow to balance the market with supply cuts were trumped by fears there might be a resolution soon to the near year-long U.S. embargo on Iranian crude. WTI fell as much as $1.73 earlier, before pulling back some of its losses late bargain-hunting activity.

London-traded Brent crude, the international benchmark blend, settled down 43 cents, or 0.7%, at $60.38 per barrel. Brent tumbled as much as $1.90 earlier.

Both WTI and Brent have lost about 4% or more since Tuesday after the White House announced that U,S. National Security Advisor John Bolton, a long-time hawk on Iran, had left the Trump administration. Prior to that, the two benchmarks had gained about 7% each over a four-day rally helped by optimism about outsize weekly U.S. crude draws.

Source :


  • 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...



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.