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Oil Holds Near Highest Since September on Trade Pact Optimism


Wednesday, 6 November 2019 08:03 WIB

Minyak WTIOil,Crude Oil


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Oil held gains near the highest in six weeks as investors remained optimistic the U.S. and China are moving closer to signing a trade deal.

Futures in New York were little changed after rising 5.6% over the past three sessions. China is reviewing locations in the U.S. where President Xi Jinping would be willing to meet Donald Trump to sign the first phase of a trade deal, people familiar with the plans said. Optimism over a potential pact overshadowed an American Petroleum Institute report that showed U.S. stockpiles added 4.26 million barrels last week.

West Texas Intermediate for December delivery was down 9 cents to $57.14 a barrel on the New York Mercantile Exchange at 10:30 a.m. in Sydney.

WTI rose 69 cents to close Tuesday at $57.23, the highest for a front-month contract since Sept. 24.

Source : Bloomberg


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