Graha Surveyor Indonesia 16th Floor Jl.jend.Gatot Subroto Kav. 56 Jakarta 12950 - Indonesia phone. (6221) 5265188 - 89 Fax. (6221) 5265190
Graha Surveyor Indonesia 16th Floor Jl.jend.Gatot Subroto Kav. 56 Jakarta 12950 - Indonesia phone. (6221) 5265188 - 89 Fax. (6221) 5265190
Graha Surveyor Indonesia 16th Floor Jl.jend.Gatot Subroto Kav. 56 Jakarta 12950 - Indonesia phone. (6221) 5265188 - 89 Fax. (6221) 5265190

 

Liputan6.com, New York - Oil prices rose two percent to the highest level in 2.5 years. Strengthening oil prices driven economic data from the United States (US) and Germany that spur buying action. Plus the unrest continues in Iran.

 

The Iranian elite revolutionary guards have deployed troops to the three provinces to stop anti-government unrest. Sentiment riots in Iran jacked up oil prices.

 

 

US oil prices or West Texas Intermediate (WTI) rose $ 1.23, or 2.1 percent, to settle at $ 61.62 a barrel. The level was the highest since June 2015.

 

Brent oil prices rose $ 1.13, or 1.7 percent, to US $ 67.71 per barrel after touching the highest level since May 2015 at around US $ 67.84 per barrel.

 

"Iran's tension is of course a factor, very strong economic data also forced the rally," said John Kiduff, partner of Again Capital LLC, as quoted by the Reuters page on Thursday (4/1/2018).

 

US oil prices also gained a boost from cold weather on the East Coast. It attracted a number of tankers carrying oil reversing traditional trade routes.

 

The release of economic data is also a positive catalyst for oil prices. The unemployment rate hit a record low in December in Germany. This is the basis of economic strengthening. In addition, US factory activity also increased more than expected.

 

The manufacturing and construction reports sparked strong US economic expectations in 2018. The sentiment also pushed Wall Street higher.

 

Ole Hanson, Chief Analyst of Saxo Bank Denmark reminded many temporary disturbances starting from the closed pipeline of North Sea Forties and Libya and protests in Iran raising long speculative bets for oil prices.

 

With the process of pipeline repair and demonstrations in Iran showing no signs of influencing oil production.

Graha Surveyor Indonesia 16th Floor

Jl.jend.Gatot Subroto Kav. 56

Jakarta 12950 - Indonesia phone. (6221) 5265188 - 89 Fax. (6221) 5265190