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Oil Prices Settle Lower on Fears About China Turbulence, But Score a Weekly Gain


Saturday, 23 May 2020 02:38 WIB

Minyak WTIMinyak jenis BrentOil,Crude Oil


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Oil futures settled lower Friday, with U.S. prices breaking the longest winning streak in more than a year over worries about China growth and fresh friction between Washington and Beijing.

July West Texas Intermediate oil fell 67 cents, or 2%, to settle at $33.25 a barrel on the New York Mercantile Exchange. On Thursday, the contract posted a gain for a sixth straight session—the longest since February 2019, according to Dow Jones Market Data. Prices rose 1.3% Thursday to settle at $33.91—the highest since March 10, based on the front-month contracts.

Global benchmark Brent crude for July delivery lost 93 cents, or 2.6%, to $35.13 a barrel on ICE Futures Europe.

Source : Marketwatch


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