DJIA25400.64
LIVE-147.63(-0.58%)
NDX9416.71
LIVE-25.34(-0.27%)

Oil Slips From Three-Month High on Signs of U.S. Stockpile Gain


Wednesday, 18 December 2019 18:37 WIB

Minyak WTIbrent oilOil,Crude Oil


c_740_198_16777215_00_images_assets_Oil3_05Oilprice.jpg

Oil retreated from a three-month high after an industry report showed a large build in U.S. crude and gasoline stockpiles, reviving concerns over renewed oversupply.

Futures in New York fell as much as 1%, yet held above $60 a barrel after rising 3.7% over the past four trading days as the U.S. and China struck a preliminary trade pact. The American Petroleum Institute reported crude inventories swelled by 4.7 million barrels last week and gasoline stockpiles by 5.6 million barrels, according to people familiar with the data. That would be the largest gasoline build since January if confirmed by official government figures due Wednesday.

West Texas Intermediate crude for January delivery, which expires Thursday, fell 48 cents, or 0.8%, to $60.46 a barrel on the New York Mercantile Exchange as of 10:56 a.m. in London. The contract finished up 1.2% on Tuesday at $60.94, the highest close since Sept. 16. The more-active February contract traded 49 cents lower at $60.38.

Brent for February settlement declined 31 cents to $65.79 a barrel on the London-based ICE Futures Europe Exchange after climbing 1.2% Tuesday. The global benchmark crude traded at a $5.40 premium to WTI for the same month.

Source : Bloomberg


RELATED NEWS

  • Oil prices fell on Wednesday after U.S. President Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong. A potential deterioration in relations between t...

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.