PT Solid Gold Berjangka | Oil Extends Climb With OPEC+ Meeting and Weaker Dollar in Focus
Minyak WTI Minyak Mentah Minyak Brent Solid Gold Berjangka, Solid Group, PT SGB, SG Berjangka
Solid Gold Berjangka | Oil edged higher as traders counted down to a key OPEC+ meeting on supply, and weighed signs that the Federal Reserve is done hiking interest rates.
West Texas Intermediate rose toward $77 a barrel after rallying by more than 2% on Tuesday, with global benchmark Brent near $82. The producer group is due to meet online on Thursday to set policy for 2024, but has yet to resolve a dispute over output quotas, according to delegates.
Crude’s gain on Tuesday was supported a weaker US dollar, with a Bloomberg gauge of the US currency sinking to the lowest level since August. Comments from Federal Reserve policy makers including Governor Christopher Waller suggested the central bank is set to halt its run of rate increases. A weaker dollar makes commodities more attractive for overseas buyers.
In the US, meanwhile, the industry-funded American Petroleum Institute reported that nationwide inventories fell 817,000 barrels last week, according to people familiar with the figures. Stockpiles at the Cushing hub also declined.
WTI for January delivery rose 0.3% to $76.62 a barrel at 7:48 a.m. in Singapore. Brent for January settlement closed 2.1% higher at $81.68 a barrel on Tuesday.
Source : Bloomberg