Oil Advances as Shrinking U.S. Stockpiles Add to OPEC Optimism

Thursday, 20 June 2019 10:58 WIB

Minyak WTIbrent oilOil,Crude Oil


Oil rose as U.S. crude stockpiles fell more than forecast and as OPEC’s top producers progressed toward extending output cuts for the rest of the year after ending a monthlong stalemate on a meeting date.

Futures climbed as much as 1.7% in New York, rebounding from a 0.3% drop on Wednesday. American crude inventories fell by 3.1 million barrels last week, according to government data, more than any of the 12 analysts forecast in a Bloomberg survey. Saudi Arabia, Iraq and the United Arab Emirates are all in favor of restraining supply to boost prices amid signs of slowing demand.

West Texas Intermediate for July delivery, which expires Thursday, added 65 cents to $54.41 a barrel on the New York Mercantile Exchange as of 10:29 a.m. Singapore time. Futures dropped 14 cents to $53.76 on Tuesday. The more-active August contract traded 1.3% higher to $54.66.

Brent for August settlement rose 72 cents, or 1.2%, to $62.54 a barrel on London’s ICE Futures Europe Exchange. Prices closed 0.5% lower at $61.82 on Tuesday. The global benchmark crude traded at a $7.88 premium to WTI for the same month.

Source : Bloomberg


  • Oil prices traded slightly lower on Friday as markets prepped for a speech from Federal Reserve Chairman Jerome Powell at the Jackson Hole Economic Symposium. New York-traded West Texas Intermediate ...
  • Oil futures ended lower on Thursday, weighed down by expectations for surplus supplies, with the economy and energy demand moving back into focus on the first day of the Jackson Hole economic policy s...



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.