Oil Trades Near $60 as Mideast Violence Flares Before OPEC Talks

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Oil traded near $60 a barrel amid rising violence in the Middle East before OPEC meets to discuss its production quota next month.

Futures were little changed in New York. Iraq’s Prime Minister vowed a swift takeover of the city of Ramadi from Islamic State militants, while Saudi Arabia’s King vowed to punish those responsible for a suicide attack on Shiite-Muslim worshipers in his nation. There was no floor session Monday on the Nymex because of the Memorial Day holiday, and transactions will be booked Tuesday for settlement purposes.

Oil’s rebound from a six-year low is faltering near $60 a barrel amid speculation a global glut will persist as rising prices spur a recovery in U.S. production. The Organization of Petroleum Exporting Countries has exacerbated the surplus by resisting calls to cut supply as it focuses on maintaining market share. The group meets in Vienna June 5.

West Texas Intermediate for July delivery was at $59.86 a barrel in electronic trading on the New York Mercantile Exchange, up 14 cents from the May 22 close at 10:12 a.m. Sydney time. The contract fell $1 to $59.72 on Friday. Prices have increased 12 percent this year.

Brent for July settlement rose 6 cents, or 0.1 percent, to $65.58 a barrel on the London-based ICE Futures Europe exchange on Monday. The European benchmark crude ended the session at a premium of $5.65 to WTI on Friday.

Source: Bloomberg

Emas Bertahan Diatas $ 1.200 Terkait Outlook Suku Bunga AS

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Emas bertahan di atas $ 1.200 per ons karena investor mengkaji komentar dari para pembuat kebijakan bank sentral AS sebagai petunjuk terkait kapan Federal Reserve akan mulai menaikkan biaya pinjaman. Sementara Perak dan platinum turun.

Bullion untuk pengiriman segera diperdagangkan sedikit berubah di level $ 1,206.25 per ons pada pukul 8:22 pagi di Singapura, menurut Bloomberg generic pricing. Pergerakan logam pada Senin kemarin berakhir di level $ 1,206.60 setelah naik dan turun sebanyak 0,3%.

Emas 1,9% lebih tinggi dalam tahun ini di tengah spekulasi pejabat The Fed akan menaikkan suku bunga tahun ini untuk pertama kalinya sejak tahun 2006. Percepatan pertumbuhan inflasi dan pekerjaan mendorong ekonomi mendekat ke titik di mana emas dapat mendukung suku bunga yang lebih tinggi, Presiden The Fed Bank Cleveland Loretta Mester mengatakan dalam sebuah wawancara, sedangkan Wakil Ketua The Fed Stanley Fischer mengatakan prosesnya akan ditentukan oleh data, bukan tanggal. Suku bunga yang lebih tinggi menekan emas karena umumnya menawarkan pengembalian hanya melalui kenaikan harga.

Emas untuk pengiriman Agustus diperdagangkan di level $ 1,206.50 di Comex New York dari $ 1,204.90 pada hari Jumat. Sementara perak untuk pengiriman segera kehilangan 0,4% ke level $ 17,108 per ounce.(frk)

Sumber: Bloomberg

Gold Steady Near $1,200 as Interest Rate Outlook Boosts Dollar

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Gold prices traded little changed slipped as prospects for the first U.S. interest rate increase since 2006 helped to push the dollar to a one-month high. Silver and palladium declined.

Federal Reserve Chair Janet Yellen said she expects to raise rates this year if the economy meets her forecasts. Inflation is moving toward the Fed’s 2 percent target, with a report on Friday showing that core consumer prices climbed 0.3 percent in April, the biggest gain in more than two years. While a pickup in inflation can boost demand for bullion as a hedge, higher borrowing costs cut the allure of the metal, which generally provides returns only through price gains.

Bullion for immediate delivery rose less than 0.1 percent to close at $1,206.60 an ounce at 5 p.m. New York time, Bloomberg generic pricing showed. The metal dropped 1.5 percent last week, the most since the period to April 24.

Gold futures for August delivery gained 0.2 percent to $1,207.60 an ounce on the Comex in New York. Aggregate trading was 70 percent below the 100-day average for this time, according to data compiled by Bloomberg.

The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major counterparts, rose as much as 0.2 percent to the highest since April 27. The measure advanced 2.6 percent last week, the most since September 2011.

Silver for immediate delivery climbed 0.4 percent to $17.1775 an ounce. Platinum added 0.5 percent to $1,151.75 an ounce, while spot palladium fell 0.2 percent to $788.70 an ounce.

Source : Bloomberg

Indeks Saham Asia Turun Untuk Pertama Kalinya Dalam 4 Hari

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Indeks acuan saham regional Asia menuju penurunan pertama dalam empat hari, dengan saham-saham Korea Selatan tergelincir setelah pasar saham dibuka kembali pasca liburan. Perusahaan kesehatan dan konsumen memimpin penurunan.

Indeks MSCI Asia Pacific melemah 0,1% ke level 153,73 pada pukul 09:06 pagi di Tokyo. Indeks mata uang dolar menambahkan 0,7% selama tiga hari terakhir. Investor menunggu laporan barang tahan lama AS hari Selasa setelah pembacaan minggu lalu terkait penguatan inflasi dari yang diharapkan, membawa Federal Reserve selangkah lebih dekat untuk menaikkan suku bunga.

Ekonomi Singapura diperluas 3,2% untuk tahunan pada kuartal pertama, menurut perkiraan akhir pemerintah. Itu lebih cepat dari pembacaan awal yaitu 1,1%.

Indeks Kospi Korea Selatan turun 0,2%. Pasar saham di Hong Kong, yang juga ditutup pada hari Senin kemarin, belum dibuka. Indeks Topix Jepang naik 0,1%. Indeks S&P/ASX 200 Australia naik 0,2% sementara Indeks NZX 50 Selandia Baru turun 0,1%.(frk)

Sumber: Bloomberg

Japanese Stocks Rise Eighth Day as Oil Stocks, Utilities Climb

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Japanese stocks rose for an eighth day after closing Monday at the highest level since 2007, with oil producers and utilities leading the advance.

The Topix index added 0.1 percent to 1,661.21 as of 9:02 a.m. in Tokyo. The Nikkei 225 Stock Average gained 0.2 percent to 20,454.46, extending a 15-year high. U.S. cash-equity markets were closed Monday for the Memorial Day holiday. The yen slipped 0.1 percent to 121.69 per dollar.

The nation’s exports rose more than forecast in April, a report showed Monday, after data last week indicated gross domestic product expanded for a second quarter. The Topix, which has climbed 18 percent this year, trades at 16.1 times estimated earnings, compared with 18 times for the Standard & Poor’s 500 Index.

Suntory Beverage & Food Ltd., which sells PepsiCo Inc. drinks in Asia, rose 1.4 percent after saying it will buy Japan Tobacco Inc.’s vending machines for about 150 billion yen ($1.2 billion) to add to its own, closing a distribution gap with Coca-Cola Co. in the country.

Source: Bloomberg