DJIA27110.98
LIVE829.16(3.15%)
NDX9824.39
LIVE194.73(2.02%)

Oil Rises After 18-Year Lows Prompt U.S.- Russia Talks Plan


Tuesday, 31 March 2020 19:17 WIB

MinyakWTIBrent


c_740_198_16777215_00_images_assets_Oil3_5b8531fedda4c8c9688b45ca.jpg

Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks aimed at stabilising energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.

Brent crude LCOc1 was up 87 cents, or 3.8%, at $23.63 a barrel by 11:06 GMT after closing on Monday at $22.76, its lowest finish since November 2002.

U.S. crude Clc1 was up $1.45, or 7.2%, at $21.54 a barrel after settling in the previous session at $20.09, its lowest since February 2002.

Oil markets have faced a double whammy from the coronavirus outbreak and a race to win market share between Saudi Arabia and Russia after OPEC and other producers failed this month to agree on deeper supply cuts to support oil prices.

Trump and Putin agreed in a phone call to have their top energy officials discuss stabilising oil markets, the Kremlin said on Monday.

Although the futures market is seeing a recovery, physical cargoes are selling in some regions at single digits, with sellers offering hefty discounts.

Source : Reuters


RELATED NEWS

  • Oil prices edged lower on Friday after U.S. inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. B...

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.