DJIA26111.99
LIVE22.38(0.09%)
NDX7526.52
LIVE47.41(0.63%)

Oil Gains as U.S. Drilling Contracts, Saudis Vow to Extend Cuts


Monday, 10 June 2019 07:52 WIB

MinyakWTIBrent


c_740_198_16777215_00_images_assets_12Hharga-minyak-turun-dari-level-tertinggi.jpg

Oil extended gains above $54 a barrel as U.S. drilling activity fell to the lowest since February of last year and Saudi Arabia’s top energy official said he was sure that OPEC+ will extend production cuts.

Futures rose as much as 1.6% in New York, after jumping 2.7% Friday. Working American rigs dropped by 11 to 789 last week, according to data released by Baker Hughes. Saudi Arabian Energy Minister Khalid Al-Falih said he was sure OPEC and its allies will extend output reductions into the second half of the year, and his Russian counterpart said the two countries agreed to take coordinated action.

Iraq will begin export as much as 10,000 barrels a day of Kirkuk crude from the country’s northern region to Jordan’s Zarqa refinery by the end of June or July, Alaa Al-Yasiri, acting director-general of state-run Oil Marketing Co., said in phone interview.

West Texas Intermediate futures for July rose as much as 85 cents to $54.84 a barrel on the New York Mercantile Exchange before trading at $54.54 as of 8:11 a.m. in Seoul. Contract added $1.40 on Friday to settle at $53.99.

Brent for August settlement gained 0.9%, or 55 cents, to $63.84 a barrel on London’s ICE Futures Europe Exchange.

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.