Oil strengthens on prospect of OPEC+ maintaining supply cuts, drop in US inventories Kamis, 04 Maret 2021 / 12:08 WIB
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SINGAPORE. Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support, alongside a drop in U.S. fuel inventories.
Brent crude futures added 61 cents, or 1%, to $64.68 a barrel, as of 0428 GMT, after climbing more than 2% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures gained 28 cents, or 0.5% to $61.56 a barrel.
The Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, are considering rolling over production cuts into April instead of raising output, as a recovery in oil demand remains fragile due to the coronavirus crisis, three OPEC+ sources told Reuters.
Gold hits lowest in more than 7 months as rising yields dent appeal Jumat, 19 Februari 2021 / 15:51 WIB
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JAKARTA. Gold recouped some losses on Friday after dropping to its lowest in more than seven months, but stayed on course for its biggest weekly drop since end-November as rising U.S. Treasury yields eroded the appeal of non-yielding bullion.
Spot gold was down 0.1% at $1,773 per ounce by 0815 GMT, having touched its lowest since July 2 at $1,759.29 earlier in the session. Spot prices have declined 2.9% so far this week. U.S. gold futures slipped 0.1% to $1,773.20.
Prices have clawed back some lost ground after hitting technical support at $1,760, said Hareesh V, head of commodity research at Geojit Financial Services.
U.S. crude hits 1-year highs after U.S. stock drawdown Kamis, 04 Februari 2021 / 06:00 WIB
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NEW YORK. Oil prices rose almost 2% on Wednesday, with U.S. crude reaching its highest settlement level in a year after stockpiles fell to their lowest levels since March.
U.S. West Texas Intermediate (WTI) crude futures rose 93 cents, or 1.7%, to settle at $55.69 a barrel, the highest since Jan. 22, 2020, after touching a high of $56.33 earlier in the session.
Brent crude futures rose $1, or 1.7%, to settle at $58.46 a barrel, the highest since Feb. 21, 2020.
Both benchmarks are also currently at their steepest backwardation level in a year. That s where contracts for near-term delivery are more expensive than later supplies, a signal of current demand and expectations of tighter supply. The current U.S. contract trades at $2.30 more than the contract expiring six months later.
Brazil government debt ends 2020 at record high 89.3% of GDP Jumat, 29 Januari 2021 / 21:18 WIB
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BRASILIA. Brazil s national debt and public sector deficit ended last year at record highs, central bank figures showed on Friday, while a steep decline in official borrowing costs pushed interest payments as a share of the economy to historic lows.
As the COVID-19 pandemic decimated Brazil s public finances over the course of the year, government debt in December reached 89.3% of gross domestic product, more than economists had expected and the highest level on record.
The public sector deficit in December excluding interest payments was 51.8 billion reais ($9.5 billion), the central bank said, close to the 51.5 billion reais median estimate in a Reuters poll of economists.