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

Indonesia News Portal for Traders | Financial & Business Updates

4 December 2024 09:45  |

Oil prices steady, US inventories rise

Oil prices were steady in Asian trade on Wednesday after rising sharply in the previous session as Israel threatened to strike Lebanon if a ceasefire with Hezbollah fails.

However, oil’s momentum was halted by industry data showing an unexpected increase in US crude inventories. Sentiment also remained largely uneasy ahead of an OPEC+ meeting on Thursday, where the cartel is widely expected to delay plans to increase output.

Still, oil retained some risk premium as Israel and Hezbollah repeatedly violated a recently announced ceasefire. Rising tensions between Russia and Ukraine also kept traders on edge.

Brent crude futures expiring in February fell 0.1% to $73.58 a barrel, while West Texas Intermediate crude futures fell 0.1% to $69.50 a barrel by 8:51 p.m. ET (01:51 GMT). Both contracts jumped more than 2% on Tuesday.

Source: Investing.com

Related News

OIL

Oil Prices Down Amid Israel Ceasefire, US Stockpile Drawdow...

Oil prices fell slightly in Asian trade on Wednesday, extending recent losses after Israel agreed to a two-month deal. Bren...

27 November 2024 09:52
OIL

Oil trims losses on tight near-term supply

Oil prices edged up on Wednesday on signs of near-term supply tightness but remained near their lowest in two weeks a day aft...

13 November 2024 17:49
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
BIAS23.com NM23 Ai