SINGAPORE, April 30 — US oil prices rebounded above US$14 (RM60) a barrel yesterday, a day after a sell-off sparked by a major fund selling its short-term holdings of the commodity amid virus-triggered storage concerns. West Texas Intermediate, the US benchmark, for June delivery jumped 14.5 per...
West Texas Intermediate, the US benchmark, for June delivery jumped 14.5 per cent to US$14.13 a barrel in Asian morning trade. — Reuters pic
West Texas Intermediate, the US benchmark, for June delivery jumped 14.5 per cent to US$14.13 a barrel in Asian morning trade. ANZ Bank said in a note that the market was hit by volatility Tuesday “as ETFs and index funds moved contract positions amid renewed concerns of negative prices” in short-term holdings.
Following the US ETF’s move, Standard & Poor’s also told clients to sell their stakes in the June contracts and move them into July, ANZ said.Other indices, including the Bloomberg Commodity Index, took similar steps.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil rebounds above US$14 after massive sell-offAn analyst says traders are bargain hunting after massive sell-offs.FMTNews US
Read more »
Oil rebounds to US$14 after sell-offs | The Malaysian InsightUS benchmark WTI up by 14.5% and Brent crude, 3.27%, in Asian morning trade.
Read more »
US could store another 'several hundred million' barrels of oil, says Mnuchin | Malay MailWASHINGTON, April 30 — President Donald Trump yesterday said his administration will soon release a plan to help US oil companies, which Treasury Secretary Steven Mnuchin said could include adding millions of barrels of oil to already-teeming national reserves. Mnuchin did not provide details on...
Read more »
Oil extends rally on slower US stockpile rise | The Malaysian InsightTraders betting on demand improvement as production cuts set to take effect.
Read more »
China's oil dream fades as state giants cut capex by US$19 bilChina’s drillers' fields are older and require more work to sustain production. FMTNews CAPEX Oil PetroChina Sinopec
Read more »
S. Korea minister, US sources, say Kim may be sheltering from virus | Malay MailSEOUL, April 29 — Fear of the coronavirus could have been keeping North Korean leader Kim Jong-un out of public sight, a South Korean minister and US sources said yesterday, following intense speculation and concern as to his whereabouts and health. Under Kim's rule since 2011, North Korea has...
Read more »