DJIA29186.27
LIVE-9.77(-0.03%)
NDX9188.58
LIVE21.95(0.24%)

Oil Steady Near 12-Week High Amid Stockpile Drop, Trade Anxiety


Tuesday, 10 December 2019 19:34 WIB

MinyakWTIBrent


c_740_198_16777215_00_images_assets_OIL_12Oiill150330b.png

Oil was steady near a 12-week high in New York, supported by signs of falling American crude inventories yet capped by continuing salvos in the U.S.-China trade dispute.

West Texas Intermediate futures were little changed, after briefly surging on signs of economic confidence in Germany. U.S. crude stockpiles fell by 2.5 million barrels last week, a Bloomberg survey showed before government data due Wednesday. The White House is scheduled to put tariffs on a further $160 billion of Chinese goods Sunday, although Agriculture Secretary Sonny Perdue said they’re unlikely to be implemented.

Oil closed at the highest level since mid-September on Friday after the Organization of Petroleum Exporting Countries and its allies surprised the market with deeper-than-expected output cuts. Attention has now turned back to the prolonged U.S.-China trade war and whether the two sides can nail down a much-hyped phase-one agreement.

WTI for January delivery gained 2 cents to $59.04 a barrel on the New York Mercantile Exchange as of 10:56 a.m. in London. The contract closed 18 cents lower on Monday after jumping 7.3% last week.

Brent for February settlement increased 1 cent to $64.26 a barrel on the London-based ICE Futures Europe Exchange after slipping 0.2% on Monday. The global benchmark crude traded at a $5.32 premium to WTI for the same month.

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.