DJIA25742.65
LIVE267.63(1.05%)
NDX9657.31
LIVE58.42(0.61%)

Oil Set for Biggest Weekly Loss Since July on Demand Pessimism


Friday, 4 October 2019 08:56 WIB

Minyak WTIbrent oilOil,Crude Oil


c_740_198_16777215_00_images_assets_OIL2_crude_2830432f.jpg

Oil headed for its biggest weekly decline since the middle of July as a streak of disappointing economic data from the U.S. and elsewhere added to fears a global recession is coming.

Futures in New York edged higher Friday, but are down around 6% this week. A key measure of American service industry activity dropped to the lowest in three years last month, while an employment gauge registered its weakest print in more than five years. That came after payrolls and manufacturing numbers fell short of estimates earlier in the week.

West Texas Intermediate for November delivery rose 12 cents, or 0.2%, to $52.57 a barrel on the New York Mercantile Exchange as of 9:34 a.m. in Singapore. It dropped for an eighth consecutive session on Thursday and is down $3.34 this week, the most since July 19.

Brent for December settlement climbed 8 cents to $57.79 a barrel on the ICE Futures Europe Exchange. The contract has fallen 6.6% this week. The global benchmark crude traded at a $5.32 premium to WTI for the same month.

Source : Bloomberg


RELATED NEWS

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.