PT Solid Gold Berjangka | WTI Crude Oil Closes With a Small Gain on Mideast Concerns
Minyak WTI brent oil Oil, Crude Oil PT SGB Solid Group SG Berjangka Solid Gold Berjangka
Solid Gold Berjangka | West Texas Intermediate (WTI) crude oil closed with a small gain on Monday rising for a sixth-straight session but remaining firmly rangebound as concerns over violence in the Middle East are being offset by adequate supply and weak demand.
WTI crude oil for March delivery closed up US$0.08 to settle at US$76.92 per barrel, while April Brent crude, the global benchmark, was last seen down US$0.25 to US$81.94.
The rise comes as Israel pushes its war against Hamas into the crowded city of Rafah in Gaza, while Yemen’s Houthi militia continues to attack shipping in the Middle East, However Iran’s foreign minister said he believed the Israel-Hamas war is moving towards a diplomatic solution, easing concerns the conflict will spread to the key oil-producing Persian Gulf.
Weak demand from China as its economy slows and rising supply from the United States and other non-OPEC+ countries that are offsetting production cuts from the cartel are also keeping prices rangebound.
Source : MT Newswires