oil market

 
 

IHS Markit: Crude oil could hit US$100 a barrel by year-end

KUALA LUMPUR, Aug 20 — Crude oil price could potentially reach US$100 (RM410) per barrel by year-end or early 2019 due to a significant reduction in Iranian output and lower spare capacity due to geopolitical risks, said global information…


KLCI gains momentum going into midday, PetChem lifts

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  KUALA LUMPUR: After a slow start at the open, the FBM KLCI moved higher into positive territory, lifted by Petronas Chemicals, and ended the morning session up 4.5 points to 1,787.97. Trading volume was 1.18 billion shares valued at RM851.41mil. There were 335 gainers versus 417 decliners and 377 counters unchanged. Asian markets were cautiously optimistic as investors awaited more details on proposed trade talks about the US and China. Japan Nikkei moved between positive and negative territory, and traded 0.33% lower at midday. Shanghai’s Composite Index was upRead More


Oil’s on its longest losing run since 2015 on turmoil and supply

SYDNEY, Aug 17 — Oil headed for the longest run of weekly declines in three years, dragged down by everything from an emerging-market rout to rising global supplies and lingering concerns over a spat between the world’s biggest economies….


Oil’s on longest losing run since 2015 on turmoil and supply

SYDNEY, Aug 17 — Oil headed for the longest run of weekly declines in three years, dragged down by everything from an emerging-market rout to rising global supplies and lingering concerns over a spat between the world’s biggest economies….


Oil edges higher on anticipated US-China trade talks

NEW YORK, Aug 17 — Signs of easing tensions between the world’s two largest economies helped to lift oil a little after the US reported a surge in crude stockpiles yesterday and futures flirted with a key technical level. Oil in New York was…


Kemp: Global economic outlook is darkening

LONDON, Aug 16 — Cyclical indicators point to slower and more uneven growth in the global economy for the rest of this year and into 2019, which means the rise in oil consumption is likely to moderate, especially for distillates like diesel….


Billionaires Druckenmiller, Soros throw weight behind oil rally

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NEW YORK, Aug 15 — The recovery in the oil industry is attracting some of the most recognised billionaires in money management. Stanley Druckenmiller’s Duquesne Family Office bought 1.68 million shares in VanEck Vectors Oil Services ETF in the…


Oil slides as industry reports surprise increase in crude stocks

NEW YORK, Aug 15 — Crude plunged after an industry report showed a surprise expansion in US crude stockpiles coupled with an increase in supplies at a key storage complex. Futures declined from the settlement in New York yesterday after the…


Oil rebounds as supply risks back in focus after Turkey turmoil

SINGAPORE, Aug 14 — Oil rebounded as investor focus returned to near-term supply risks, while broader financial markets steadied after being rattled by Turkey’s deepening economic turmoil. Futures in New York added 0.3 per cent, recouping some…


Bursa joins global selloff as Turkey’s economic crisis unfolds

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KUALA LUMPUR: Bursa Malaysia was not spared the bloodshed in global markets as fears mounted over the Turkish financial crisis. At noon, Japan’s Nikkei was down 2.2%, the Shanghai Composite Index down 1.37% and Kospi down 1.8%. The Turkish Lira, which has last about half of its value since September 2017, plummeted as the White House doubled steel and aliminium tariffs on the nation even as President Recep Tayyip Erdogan steadfastedly refused to raise interest rates in what he claims is an “economic war” against foreign interests. The Lira’s plungeRead More