Oil Prices Weakens While Coal Bolsters
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Kamis, 1 Januari 1970 07:00 WIB
TEMPO.CO, Jakarta - Coal prices was closed high on the second day of trading, Wednesday, February 15, 2017. At the Rotterdam trade for March 2017, coal was closed well up 1.87 percent or 1.40 points to US$ 76.30/Metric ton.
March 2017 coal contract prices strengthened on the second day, Tuesday, February 13, 2017, after it went up 0.40% to reach the value of 74.90/Metric ton
Not so positive news came from oil. The price of West Texas Intermediate oil for March’s shipment fell 9 cents to US$ 53.11/barrel at the New York Mercantile Exchange.
Meanwhile, April’s Brent oil shipment weakened 22 percent to US$55.75/ barrel at the ICE Futures Europe Exchange in London.
Crude oil prices also weakened following reports of U.S. supplies in reducing the impacts of OPEC’s decreased oil production.
Based on data provided by U.S. Energy Information Administration (EIA), supplies of crude oil increased 9.53 million barrels resulting to a total of 518.1 million barrels, which is the highest is achieved since 1982 and increased more than twice the value predicted by analysts that predicted a 3.5 million barrel increase.
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