DJIA27093.23
LIVE-53.85(-0.20%)
NDX7901.79
LIVE13.23(0.17%)

Oil Holds Gains as Shrinking U.S. Inventories Stoke Supply Fears


Thursday, 13 September 2018 08:05 WIB

Minyak WTIbrent oilOil,Crude Oil


c_740_198_16777215_00_images_assets_OIL2_5bfc09d3405241b4ae96129349c8310a_18.jpg

Oil held gains above $70 a barrel as shrinking U.S. stockpiles and declining Iranian output point to tighter markets.

Futures in New York were little changed after a 1.6 percent gain on Wednesday. Government data showed Wednesday U.S. crude inventories fell to the lowest level since Feb. 2015 and stockpiles at the Cushing storage hub declined for the first time in five weeks. Iran’s output dropped in August, though the decline was offset by production increases led by Libya, according to OPEC’s monthly report. Meanwhile, Hurricane Florence continued to threaten fuel markets in the East Coast.

West Texas Intermediate for October delivery traded at $70.19 a barrel on the New York Mercantile Exchange, down 18 cents, at 9:30 a.m. in Tokyo. The contract climbed $1.12 to $70.37 on Wednesday. Total volume traded was about 68 percent below the 100-day average.

Brent for November settlement lost 11 cents to $79.63 a barrel on the ICE Futures Europe exchange after touching $80 for the first time since May on Wednesday. The global benchmark traded at a $9.67 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.