• Sun, Mar 1, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

12 November 2024 03:26  |

Oil falls on Chinese stimulus disappointment, supply outlook

Oil prices fell by more than 2% on Monday after China's latest stimulus plan disappointed investors seeking demand growth in the world's second-biggest oil consumer, while supply looked set to rise in 2025.

Brent crude futures settled at $71.83 a barrel, down$2.04 or 2.76%. U.S. West Texas Intermediate crude futures finished at $68.04 a barrel, down $2.34, or 3.32%.

Both benchmarks fell more than 2% on Friday.

A stronger dollar makes commodities denominated in the U.S. currency, such as oil, more expensive for holders of other currencies and tends to weigh on prices.

Source: Reuters

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 Futures Gain As Market Watches U.S. Election

Crude oil futures rise in a choppy session with participants awaiting the outcome of the U.S. presidential election. Price...

6 November 2024 03:33
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
BIAS23.com NM23 Ai