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Oil Holds Near Eight-Week High on U.S.-China Trade Deal Optimism

Monday, 18 November 2019 09:46 WIB Minyak WTI Minyak Mentah Minyak Brent

Oil held gains near the highest close in eight weeks on signs of progress in the prolonged U.S.-China trade war, while Saudi Arabia set a valuation for Aramco's initial public offering. Futures were little changed in New York after rising 1.7% on Friday to close at the highest since Sept. 23. Trade negotiators held “constructive discussions” in a phone call Saturday to address each side's core concerns surrounding a phase one deal. Saudi Arabia will sell just 1.5% of Aramco's shares and set a valuation target of $1.6 trillion to $1.71 trillion for its IPO. WTI for December delivery rose 4 cents to $57.76 a barrel on the New York Mercantile Exchange as of...

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RECENT NEWS

Gold was little changed after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a drop in holdings in bullion-backed exchange-traded funds. U.S. and Chinese...

Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices. Benchmark Brent crude gained $1.03, or 1.7%, to settle at $63.31 a...

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Oil headed for a weekly decline as rising U.S. crude inventories and new production elsewhere signaled that global markets will remain comfortably supplied. Futures slipped 0.5% in New York, bringing the loss this week to 1.3%. U.S....

Energy

U.S. oil prices fell for the second straight day on Tuesday amid market jitters over limited progress between China and the United States on rolling back trade tariffs, while rising U.S. inventories

Precious Metals

Gold held steady on Tuesday after hitting its highest in over one-and-a-half weeks, propped up by doubts about a trade deal between the United States and China. Spot gold was little changed at

CURRENCIES

Dollar nurses losses as hopes for trade deal fade
Tuesday, 19 November 2019 08:08 WIB
The dollar nursed losses against major currencies on Tuesday as receding hopes for a preliminary trade deal between the United States and China hurt demand for the greenback. There have been high

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