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

Oil Extends Drop as China Stokes Demand Worries


Tuesday, 16 July 2019 08:03 WIB

MinyakWTIMinyak WTI


Oil extended losses below $60 a barrel after slowing Chinese growth stoked demand concerns and a tropical storm that shut almost three-quarters of U.S. Gulf of Mexico production moved inland.

Futures in New York lost 0.5%, after ending Monday’s session down 1.1% for the biggest loss in almost two weeks. With Hurricane Barry now ashore and weakening, drillers have begun restaffing offshore installations in the Gulf. About 69% of crude output remained shuttered, the U.S. government said Monday, down from 73% over the weekend. Chinese government data, meanwhile, showed the world’s second-largest economy slowed to a three-decade low in the second quarter amid a prolonged trade dispute.

West Texas Intermediate for August delivery fell 28 cents to $59.30 a barrel on the New York Mercantile Exchange as at 8:16 a.m. Sydney time. August WTI ended Monday down 63 cents at $59.58.

Brent for September settlement finished 24 cents lower at $66.48 on the ICE Futures Europe Exchange.

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.