Oil prices jumped again on Thursday as the Street hopes for ongoing production cuts in the face of a coronavirus-induced demand loss.
Thursday's move higher comes afterPresident Donald Trump said Wednesday in a tweet that the U.S. would "destroy" any, which Bjornar Tonhaugen, head of oil markets at Rystad Energy, said contributed to oil's jump. The Middle East is key to the oil trade, so any possible tumult can impact the worldwide flow of crude.
Analysts are warning that storage around the world is quickly reaching capacity, which has also pressured prices in recent weeks. "June could see storage tanks struggling to come off highs, in which case the days leading to expiry next month could see yet another squeeze," Francesco Martoccia, senior associate in commodity research at Citi, wrote in a note to clients.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Top U.S. oil ETF plans to diversify investment in later-dated oil contractsThe United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, may begin investing in oil futures contracts expiring in several months, rather than just the front-month and second-month contract, it said in a filing https://bit.ly/2XWrj3L%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B on Wednesday.
Baca lebih lajut »
Battered U.S. oil ETF to diversify investment in later-dated oil contractsThe United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, is moving to spread out its investments in oil futures in response to extreme market turbulence, it said in a filing https://bit.ly/2XWrj3L%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B on Wednesday.
Baca lebih lajut »
21 Baking Projects Made With Just Pantry StaplesFrom pie crispies to stovetop flatbreads, these recipes have low-key ingredient lists. And for whatever you don't have, we bet there's a substitute.
Baca lebih lajut »
21 More Ending Scenes That People Believe Derailed Otherwise All Right Movies'It's the journey, not the destination'...but, also, the heck was that destination?!
Baca lebih lajut »