• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

30 October 2024 16:57  |

Oil Edges Higher After Two-Day Drop With Middle East in Focus

Oil edged higher after a two-day decline, with traders weighing developments in the Middle East and the prospects for more OPEC+ supply.

Brent rose toward $72 a barrel after tumbling more than 6% over the previous two sessions, while West Texas Intermediate was near $68. While one Israeli minister suggested that the war with Hezbollah could be over by year-end, the country’s military chief vowed to strike Iran “very hard” should the OPEC producer launch another attack.

US crude stockpiles, meanwhile, shrank by 600,000 barrels last week, the industry-funded American Petroleum Institute reported, according to a document seen by Bloomberg. Gasoline and distillate inventories also fell.

Brent for December settlement was 0.7% higher at $71.65 a barrel at 9:50 a.m. in London. WTI for December delivery rose 0.8% to $67.74 a barrel.

Source: Bloomberg

 

Related News

OIL

WTI Crude Oil Rises Off an 18-Month Low as Tropical Storm F...

West Texas Intermediate (WTI) crude oil closed higher on Monday, climbing off an 18-month low on dip buying and the formation...

10 September 2024 02:06
OIL

Crude Extends Losses on Prospects of Higher Supply

Oil prices add to the previous day's heavy losses as the market shrugs off delegate comments that OPEC+ is considering a dela...

5 September 2024 02:18
OIL

Crude Oil Advances With Middle East Risks and China in Focus...

Oil climbed after slumping by more than 4% on Tuesday — as Israel said it would make its own decision on how to attack Ira...

16 October 2024 06:45
OIL

Crude Oil in Narrow Range with Markets Assessing Middle East...

Crude Oil finds a floor and stabilizes for now on Thursday after a four-day losing streak, which currently still accounts for...

17 October 2024 19:07
BIAS23.com NM23 Ai