PT Solid Gold Berjangka | Oil Extends Three Weekly Drops With Focus on Demand Outlook

02:14 13 November in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

Minyak WTI brent oil Oil, Crude Oil

Solid Gold Berjangka | Oil held three weeks of declines as dealers stay for assiduity reports to confirm whether the recent run lower has been overdrawn.

Brent crude slipped toward$ 81 a barrel, after losing about 12 over the once three weeks on growing enterprises over global demand and the unwinding of the Israel- Hamas war’s threat decoration. West Texas Intermediate traded below$ 77. OPEC will publish its yearly oil painting request report on Monday, followed this week by the International Energy Agency and two weeks ’ worth of US force data.

“ The release of several oil painting request reports this week will be the focus, ” ANZ Group effectsLtd. judges Brian Martin and Daniel Hynes said in a note. “ Any signs of miserliness may shift sentiment that has been weakened by easing geopolitical pressures. ”

oil painting rebounded slightly at the end of last week after Wednesday slipping below$ 80 for the first time since July, with bearish consumption signals from China, the US and Europe prevailingforce from the Middle East — the source of about a third of the world’s crude — has remained innocent by the conflict between Israel and Hamas, while shipments from Russia and the US are adding .

Over the weekend, Israeli spurts struck Hezbollah targets in Lebanon in another sign a alternate front could open in the conflictelderly officers in Israel and the US suggested that addresses on securing the release of Hamas- held hostages are enhancing.

Meanwhile, Iraqi Oil Minister Hayyan Abdul Ghani is visiting the Kurdistan region to bandy the resumption of exports via Ceyhan in Turkey. The major channel has been halted since March because of a disagreement between Turkey and Iraq and was also damaged by an earthquake.

Brent for January agreement fell0.3 to$81.18 a barrel at 818a.m. in Singapore.

WTI for December delivery slid0.3 to$76.90 a barrel.

Source : Bloomberg,PTSGB, Solid Group, Solid Gold Berjangka