DJIA39807.37
LIVE47.29(0.12%)
NDX18254.69
LIVE-26.15(-0.14%)

Oil prices climb, head for roughly 10% weekly gain on optimism over global demand


Friday, 19 June 2020 19:20 WIB

BrentMinyak WTI


Oil futures on Friday headed higher for the day and week as the industry drew optimism from the outcome of a Thursday meeting of OPEC members and allies about adherence to a global production cut pact.

Commodity analysts also said that renewed talks about a recovery fund to help Europe’s troubled economies and easing Sino-American relations were helping to lift the outlook for crude demand.

European Union leaders relaunched negotiations on Friday over a €750 billion ($840 billion) recovery fund to revive the eurozone but divisions remain.

West Texas Intermediate crude for July delivery, the U.S. benchmark, was trading $1.11, or 2.9%, higher at $39.95 a barrel on the New York Mercantile Exchange, after rising 2.3% on Thursday.

Global benchmark Brent oil for August delivery added 95 cents, or 2.3%, at $42.46 a barrel on ICE Futures Europe, after gaining 2% in the previous session.

For the week, WTI is on pace for a more than 10%, while Brent was looking at a 9.6% weekly advance.

Source: Marketwatch


RELATED NEWS

  • US crude futures post their ninth straight session of price increases, ending up 1% at $87.54 a barrel, which is the highest closing price since Nov. 11, 2022. Analysts attribute the gains to announc...

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.