Oil Jumps 4% as U.S. Gasoline Prices Hit Record High

Sabtu, 14 Mei 2022 | 15:24 WIB
Oil Jumps 4% as U.S. Gasoline Prices Hit Record High
[ILUSTRASI. A gas pump is inserted inside an Audi vehicle at a Mobil gas station in Beverly Boulevard in West Hollywood, California, U.S., March 10, 2022. Picture taken March 10, 2022. REUTERS/Bing Guan]
Reporter: Sumber: Reuters | Editor: Thomas Hadiwinata

KONTAN.CO.ID - NEW YORK, May 13 (Reuters) - Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil.

Brent LCOc1 futures rose $4.10, or 3.8%, to settle at $111.55 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 rose $4.36, or 4.1%, to settle at $110.49.

That was the highest close for WTI since March 25 and its third straight weekly rise. Brent fell for the first time in three weeks.

U.S. gasoline RBc1 futures soared to an all-time high after stockpiles fell last week for a sixth straight week. That boosted the gasoline RBc1-CLc1 crack spread - a measure of refining profit margins - to its highest since it hit a record in April 2020 when WTI finished in negative territory.

Baca Juga: Malaysia Touts Trade Access as U.S. Indo-Pacific Plan Only a "Good Beginning

"There has not been an increase in (U.S.) gasoline storage since March," said Robert Yawger, executive director of energy futures at Mizuho, noting gasoline demand is poised to spike when summer driving season starts on the U.S. Memorial Day holiday weekend.

The U.S. 3:2:1-crack spread, another measure of refining margins that includes gasoline and diesel, rose to a record, according to Refinitiv data going back to May 2021.

Automobile club AAA said U.S. prices at the pump rose to record highs on Friday of $4.43 per gallon for gasoline and $5.56 for diesel.

Oil prices have been volatile, supported by worries a possible EU ban on Russian oil could tighten supplies but pressured by fears that a resurgent COVID-19 pandemic could cut global demand.

"An EU embargo, if fully enacted, could take about 3 million bpd (barrels per day) of Russian oil offline, which will completely disrupt, and ultimately shift global trade flows, triggering market panic and extreme price volatility," said Rystad Energy analyst Louise Dickson.

This week, Moscow slapped sanctions on several European energy companies, causing worries about supplies.

In China, authorities pledged to support the economy and city officials said Shanghai would start to ease coronavirus traffic restrictions and open shops this month. "Crude prices rallied on optimism that China’s COVID situation was not worsening and as risky assets rebounded," said Edward Moya, senior market analyst at data and analytics firm OANDA.

Baca Juga: U.S. Tells Southeast Asian Leaders Summit Marks New Era for Ties

Global shares rose after a volatile week of trading, pushing up stock indexes in the United States and Europe.

Pressuring oil prices during the week, inflation and rate rises drove the U.S. dollar .DXY to a near 20-year high against a basket of currencies, making oil more expensive when purchased in other currencies.

The EU said there was enough progress to relaunch nuclear negotiations with Iran. The U.S. said it appreciated the EU's efforts but said there was no agreement yet and no certainty that one might be reached.

Bagikan

Berita Terbaru

Hexindo Adiperkasa (HEXA) Genjot Segmen Pertanian dan Perkebunan untuk Angkat Kinerja
| Kamis, 18 September 2025 | 04:25 WIB

Hexindo Adiperkasa (HEXA) Genjot Segmen Pertanian dan Perkebunan untuk Angkat Kinerja

Hexindo Adiperkasa (HEXA) menargetkan pendapatan tahun fiskal 2025 tumbuh 17% menjadi US$ 609,86 juta.

Himbara Siapkan Struktur Salurkan KUR Perumahan Rp 130 Triliun
| Kamis, 18 September 2025 | 04:25 WIB

Himbara Siapkan Struktur Salurkan KUR Perumahan Rp 130 Triliun

Dari total plafon tersebut, Rp 117 triliun dialokasikan untuk UMKM kontraktor (supply side) dengan batas maksimal Rp 20 miliar per kontraktor. 

Ini Sektor-Sektor Penyebab Kredit Macet di Perbankan
| Kamis, 18 September 2025 | 04:20 WIB

Ini Sektor-Sektor Penyebab Kredit Macet di Perbankan

Jika dilihat berdasarkan sektor ekonomi pada bulan lalu, sektor perikanan, perdagangan besar dan eceran, akomodasi, penyediaan makanan dan minuman

Hatten Bali (WINE) Berharap Kinerja Tahun Ini Tetap Berbuih
| Kamis, 18 September 2025 | 04:19 WIB

Hatten Bali (WINE) Berharap Kinerja Tahun Ini Tetap Berbuih

Hatten Bali perlu memperluas pasar di luar Pulau Dewata sekaligus mengubah persepsi sebagian konsumen yang lebih memilih produk impor.

Penetrasi Tinggi, Kontribusi Premi dari Kanal Digital Masih Mini
| Kamis, 18 September 2025 | 04:15 WIB

Penetrasi Tinggi, Kontribusi Premi dari Kanal Digital Masih Mini

Kontribusi premi yang didapat perusahaan asuransi dari kanal digital baru mencapai 2,61% dari total premi asuransi komersial 

Daya Beli Rendah dan Bunga Tinggi Membuat Penyaluran KPR Melandai
| Kamis, 18 September 2025 | 04:15 WIB

Daya Beli Rendah dan Bunga Tinggi Membuat Penyaluran KPR Melandai

Merujuk data Bank Indonesia (BI), pertumbuhan kredit properti per Juli 2025 hanya sebesar 4,3% secara tahunan menjadi Rp 1.450,8 triliun. 

Demi Geothermal, Kemenhut Rayu UNESCO Lepas Sebagian Hutan Warisan Dunia di Sumatra
| Rabu, 17 September 2025 | 20:32 WIB

Demi Geothermal, Kemenhut Rayu UNESCO Lepas Sebagian Hutan Warisan Dunia di Sumatra

Sejumlah perusahaan besar memiliki proyek panas bumi di sekitar taman nasional yang menjadi warisan dunia Unesco.

Masih Naik Kendati Masuk UMA, Ini Prospek Saham Dwi Guna Laksana (DWGL)
| Rabu, 17 September 2025 | 19:35 WIB

Masih Naik Kendati Masuk UMA, Ini Prospek Saham Dwi Guna Laksana (DWGL)

Pada semester I-2025, penjualan DWGL meng.alami peningkatan 4,58% dari Rp 1,66 triliun menjadi Rp 1,74 triliun

Prospek Saham HMSP Bergantung Pada Revisi Tarif Cukai yang Lebih Rendah
| Rabu, 17 September 2025 | 18:59 WIB

Prospek Saham HMSP Bergantung Pada Revisi Tarif Cukai yang Lebih Rendah

Pada 2024, penerimaan negara dari cukai mencapai Rp 217 triliun, dengan 95% di antaranya berasal dari cukai rokok.

Biar Masalah Uang Tak Menjadi Sumber Kecemasan
| Rabu, 17 September 2025 | 18:07 WIB

Biar Masalah Uang Tak Menjadi Sumber Kecemasan

Kondisi pengeluaran yang lebih besar dari pemasukan, bisa memicu stres finansial. Simak upaya untuk mencegahnya!

INDEKS BERITA

Terpopuler