Saturday, 18 August 2018
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Steady Near $59 as IEA Says Shale May Derail OPEC Cuts
Tuesday, 13 February 2018 21:12 WIB | COMMODITY |MinyakWTIBrent

Oil steadied near $59 a barrel in New York as the International Energy Agency warned that rising U.S. supply may counter OPEC™s success in clearing a glut.

Production cuts by the Organization of Petroleum Exporting Countries and Russia have shrunk a surplus in oil inventories by about 80 percent, a reportfrom the Paris-based IEA showed on Tuesday. Yet the decline in stockpiles will slow as rising shale-oil output puts America on track to surpass both Saudi Arabia and Russia, the agency predicted.

WTI for March delivery was 28 cents lower at $59.01 a barrel on the New York Mercantile Exchange as of 1:02 p.m. London time. The contract rose 9 cents to settle at $59.29 on Monday, snapping six days of losses. Total volume traded was about 9 percent above the 100-day average.

Brent for April settlement slipped 16 cents to $62.43 a barrel on the London-based ICE Futures Europe exchange. The contract declined 20 cents to $62.59 on Monday. The global benchmark traded at a $3.61 premium to April WTI.

U.S. crude inventories probably climbed by 3 million barrels last week, according to a Bloomberg survey, while the Energy Information Administrationsaid U.S. shale oil output will rise by 110,000 barrels a day in March.

Source : Bloomberg

RELATED NEWS
Oil Set for Longest Losing Run Since 2015 Amid Economic Fears...
Friday, 17 August 2018 19:53 WIB

Minyak menuju penurunan mingguan terpanjangnya dalam tiga tahun terakhir karena gejolak di pasar negara berkembang dan konflik perdagangan yang sedang berlangsung antara AS dan China memicu kekhawatir...

Oil Prices Step Higher After IEA Report Reveals Boost to Global Demand Projection...
Friday, 10 August 2018 19:58 WIB

Harga minyak bergerak lebih tinggi pada hari Jumat karena perkiraan meningkatnya pada permintaan minyak mentah global, dan dorongan pasokan dari Rusia, mengimbangi kekhawatiran yang masih ada tentang ...

Oil Prices Gain as U.S. Sanctions On Iran Could Tighten Global Supply...
Tuesday, 7 August 2018 19:51 WIB

Harga minyak naik pada hari Selasa dengan munculnya kembali sanksi AS terhadap Iran yang terlihat mungkin memperketat pasokan global, terutama setelah produksi Arab Saudi juga baru-baru ini mengalami ...

Oil Heads for Weekly Gain as Inventory Draw Adds to Mideast Risk...
Friday, 3 August 2018 14:14 WIB

Minyak bersiap untuk kenaikan mingguan pertama mereka sejak akhir Juni lalu seiring para pedagang menilai risiko Iran memblokir titik pengiriman minyak mentah terpenting di dunia serta tanda-tanda pen...

Oil Trades Near $68 as Inventory and OPEC Output Weigh on Market...
Thursday, 2 August 2018 11:16 WIB

Minyak diperdagangkan mendekati $ 68 per barel setelah turun selama dua sesi berturut-turut seiring meningkatnya persediaan AS dan output yang lebih tinggi dari OPEC dan Rusia yang membebani pasar. K...

POPULAR NEWS
Gold Strikes Roughly 18-Month Low as Dollar Strength Persists

Gold resumed this week™s slide in Wednesday...

Gold futures post lowest settlement in more than 1 1/2 years

Gold futures on Wednesday finished at their...

Gold prices sink to 19-month low amid strong dollar

Gold prices shed over one percent on Thursday to...

LATEST NEWS
Dollar Slides, Headed For First Weekly Loss in a Month

The U.S. dollar looked listless on Friday, sliding against a handful of its major rivals but rallying against some emerging markets amid worries over further sanctions on Turkey. The ICE U.S. Dollar Index which measures the greenback against six...

Consumer Sentiment in U.S. Declines to Lowest in Almost a Year

U.S. consumer sentiment unexpectedly fell to the lowest level in almost a year amid less favorable views on purchasing big-ticket items and persistent concerns about trade tensions, a University of Michigan report showed Friday.  Sentiment...

U.S. Stocks Flat to Slightly Lower After Weak Earnings, Turkey Turmoil

U.S. stocks opened flat to slightly lower Friday, dinged after a round of disappointing corporate earnings and renewed pressure on Turkey's lira. The S&P 500 fell 0.1% to 2,837.54, while the Dow industrials were up 9 points, or less than 0.1%,...