DJIA29216.21
LIVE-131.89(-0.45%)
NDX9170.84
LIVE-2.89(-0.03%)

Oil Extends Decline as Concerns Over Global Economy Persist


Monday, 21 October 2019 20:11 WIB

Minyak WTIMinyak MentahMinyak Brent


c_740_198_16777215_00_images_assets_OIL_1438953758-1907.jpg

Oil fell again after a weekly loss amid ongoing concern that a fragile economic outlook will continue to weigh on fuel demand.

Futures declined 0.6% in New York after dropping 1.7% last week. Policy makers in China, the world’s second-biggest oil consumer, are preparing for two key meetings with fresh evidence that economic growth will slip further from its lowest in almost three decades. Speculators have almost tripled short positionsin U.S. crude futures since mid-September as Washington and Beijing struggle to finalize a trade deal, according to data on Friday.

West Texas Intermediate for November delivery fell 30 cents to $53.48 a barrel on the New York Mercantile Exchange as of 8:30 a.m. local time. Trading volumes were about 90% below average as transactions in the December contract slowed before its expiry on Tuesday. The contract lost 15 cents to close at $53.78 on Friday, capping a 1.7% weekly loss.

Brent for December settlement fell 42 cents to $59 a barrel on the London-based ICE Futures Europe Exchange, after declining 49 cents on Friday. The global benchmark crude traded at a $5.35 premium to WTI for the same month.

Source : Bloomberg


RELATED NEWS

  • Oil prices dipped on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya's crude production to a trickle. Brent crude was down 65 cents at $64....
  • Oil prices fell more than 1% on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya’s crude production to a trickle. Brent crude fell 98 cents,...
  • Oil prices rose on Tuesday after Libya declared force majeure on two major oilfields following a military blockade and protests escalated in Iraq, raising supply concerns. Brent crude was trading up ...
  • Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC me...

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.