Crude Oil Price Decreases in Asian Markets Continues
By : Abraham Sihombing And Aldo Bella Putra | Wednesday, August 30 2017 - 18:00 IWST
![Blok Migas](https://eagle.industry.co.id/uploads/berita/detail/799.jpg)
Blok Migas
INDUSTRY.co.id - Jakarta - The price of crude oil in Asian markets declined in trading on Wednesday (08/30/2017). At 1040 GMT, the price of WTI (West Texas Intermediate) crude oil for October 2017 delivery contract fell 0.3% or 14 cents to US $ 46.30 per barrel. Brent crude for October delivery fell 0.38 percent, or 20 cents, to $ 51.80 a barrel.
The price of oil has declined in the last three trading days in a row because of market participants' anxiety about the decline in crude oil demand in the United States (US). Meanwhile, the issue of declining US crude oil inventories is still unable to lift crude oil prices in global markets.
In a study published Wednesday (30/08/2017), Asia Trade Point Future revealed, the emergence of anxiety market participants came from the closure of various US refineries when Hurricane Harvey crashed and cut more than 16% of US oil production capacity.
However, the issue of the decline in US oil reserves is still not able to lift the price of crude oil because of the prospect of falling demand for crude oil in the land of Uncle Sam's.
Meanwhile, according to data from the American Petroleum Institute (API), US oil weekly reserves fell 5.8 million barrels. While the US Energy Information Administration (EIA) report will be released on Wednesday (08/30/2017) local time. (Abraham Sihombing)
Read Also
The 7th Abu Dhabi Dialogue in Dubai: Commitment to Enhance Migrant…
Pertamina Hulu Rokan expounds on wetland innovations at COP28
Pertamina reaffirms its commitment to net zero emissions by 2060
President Jokowi Inaugurates Tangguh Train 3 Project in Teluk Bintuni…
MMA Offshore Automates Onboarding With Boomi
Today's Industry
![Totolink outlet. (Photo: Public Relation of Totolink)](https://eagle.industry.co.id/uploads/berita/small/5782.jpg)
Kamis, 11 Juli 2024 - 22:08 WIB
Totolink Strengthens Commitment to Innovative and Reliable Network Solutions for Indonesia
Marking a strategic step, Totolink Indonesia proudly announces the enhancement of its head office in Jakarta, located at Harco Mangga Dua Blok E No.28, Sawah Besar, Central Jakarta.
![The President Commissioner of Bersama Digital Data Centres (BDDC), Setyanto Hantoro (fourth right) and The President Director of BDDC, Angelo Syailendra (third right) during the BDDC JST1 Inauguration Ceremony in Jakarta on Wednesday (10/07/2024).](https://eagle.industry.co.id/uploads/berita/small/5781.jpg)
Kamis, 11 Juli 2024 - 19:03 WIB
BDDC Inaugurates JST1 TIER IV Data Centre in Jakarta to Strengthen Digital Infrastructure
Bersama Digital Data Centres (BDDC), an in-town data centre provider with interconnectivity and integrated digital systems, inaugurated its 5 MW Tier IV data centre facility, JST1 (Jakarta Selatan…
![The Board of Directors of PTT Global Chemical (GC) pose for a group photo after receiving the prestigious SNI (Indonesian National Standard) certification for its InnoPlus Polyethylene resin. (Photo: GC Public Relations)](https://eagle.industry.co.id/uploads/berita/small/5780.jpg)
Kamis, 27 Juni 2024 - 15:30 WIB
Global Chemical Achieves Prestigious SNI Certification for InnoPlus Polyethylene Resin
PTT Global Chemical (GC) is proud to announce its successful attainment of the prestigious SNI (Indonesian National Standard) certification for its InnoPlus Polyethylene resin.
![Financial Literacy](https://eagle.industry.co.id/uploads/berita/small/5779.png)
Rabu, 26 Juni 2024 - 22:47 WIB
The Importance of Financial Literacy
Financial literacy refers to the ability to understand and use various financial skills effectively, including personal financial management, budgeting, and investing.
![Unveiling New Opportunities](https://eagle.industry.co.id/uploads/berita/small/5778.png)
Rabu, 26 Juni 2024 - 14:52 WIB
Unveiling New Opportunities
As we step into 2024, the cryptocurrency landscape continues to evolve, presenting unprecedented opportunities for investors, developers, and enthusiasts.
News Comment