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Oil Pares Weekly Gain as Supply-Demand Seesaw Challenges Traders


Friday, 25 October 2019 14:02 WIB

MinyakWTIBrentMinyak MentahOil,Crude Oil


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Oil declined, but was still on track for its biggest weekly gain in more than a month, as investors weigh further signs of a slowing global economy against tightening crude supplies.

West Texas Intermediate for December delivery lost 21 cents to $56.02 a barrel on the New York Mercantile Exchange as of 7:40 a.m. London time. The contract added 26 cents to close at $56.23 on Thursday. Prices are up 4.2% this week, the most since the week ended Sept. 20.

Brent for December settlement slipped 20 cents, or 0.3%, to $61.47 a barrel on the London-based ICE Futures Europe Exchange. Prices are 3.5% higher this week. The global benchmark crude traded at a $5.45 premium to WTI.

Source : Bloomberg


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