Oil Extends Drop for Second Day as U.S. Crude Supply Seen Rising

Tuesday, 19 November 2019 08:18 WIB

Minyak WTIMinyak MentahMinyak Brent


Oil dropped for a second day on indications U.S. crude stockpiles and shale output will continue expanding, while investors wait for news on a breakthrough to the prolonged trade war.

Futures declined as much as 0.4% in New York after falling 1.2% on Monday, the most since Nov. 6. American crude inventories probably rose by 1.5 million barrels last week, according to a Bloomberg survey before government data on Wednesday. Shale output at major fields are also expected to increase next month. Global markets are in a holding pattern, sensitive to any developments on trade after months of closely-followed negotiations.

West Texas Intermediate for December delivery fell 22 cents to $56.83 a barrel on the New York Mercantile Exchange as of 8:33 a.m. Singapore time. The contract slid 67 cents to close at $57.05 on Monday. The front-month contract will expire Wednesday.

Brent for January settlement dropped 86 cents, or 1.4%, to close at $62.44 a barrel on the London-based ICE Futures Europe Exchange on Monday. The global benchmark crude traded at a $5.28 premium to WTI for the same month.

Source : Bloomberg


  • Oil prices rose nearly 1% on Thursday after U.S. President Donald Trump said Washington was “very close” to nailing down a trade deal with China. Brent crude futures rose 67 cents, or 1%, to $64.39 a...
  • Oil prices edged higher on Thursday with the market mood switching to relief as OPEC forecast a supply deficit next year, from doom and gloom over data showing a surprise increase in U.S. crude invent...



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.