us crude inventories


Oil below US$70 as stockpile gain counters US-Saudi row


Political tension: A Royal Dutch Shell Plc attendant working at a gas station, operated by Sahel, in Dhahran, Saudi Arabia. Saudi-US tension is mounting over the disappearance of criticKhashoggi. — Bloomberg SINGAPORE: Oil traded near the lowest level in a month after a bigger-than-expected gain in American stockpiles overshadowed tensions between the US and Saudi Arabia over a missing critic of the kingdom. Futures in New York were little changed, after plunging 3% Wednesday, the biggest drop since August. US crude inventories rose 6.49 million barrels last week, the EnergyRead More

Global stocks tumble on souring sentiment, oil falls

NEW YORK, Oct 19 ― Stocks fell sharply yesterday while the Japanese yen rose in a move toward safety assets, with traders citing the Sino-US trade war, Italy's budget concerns and a widening gap between the United States and Saudi Arabia. European…

Ringgit snaps two-day gaining streak to end lower against US dollar

KUALA LUMPUR, Oct 18 — The ringgit snapped its two-day gaining streak to end lower against the US dollar today as the greenback soared after the US Federal Reserve’s (Fed) latest meeting hinted at more rate hikes ahead. At 6pm, the local unit…

Ringgit snaps 2-day gaining streak to end lower vs US dollar

KUALA LUMPUR: The ringgit snapped its two-day gaining streak to end lower against the US dollar today as the greenback soared after the US Federal Reserve's (Fed) latest meeting hinted at more rate hikes ahead.

At 6pm, the local unit slid to 4.1550/1580 against the US dollar from 4.1490/1530 on Wednesday.

Citing news report, a dealer said minutes of the Fed's September 25-26 meeting revealed that every Fed policymaker backed raising interest rates, and generally agreed on the need to raise borrowing costs further.

“It was reported that the hawkish Fed minutes had lifted the US dollar to a one-week high early Thursday,” he said.

Meanwhile, the dealer said the falling crude oil prices due to the US crude inventories surge also weighed on the ringgit performance, as weak crude oil prices are negative for Malaysia's oil and gas revenue.

At the close, the ringgit was traded mostly higher against other major currencies, except versus the British pound.

The local unit advanced against the Japanese yen to 3.6920/6953 from 3.6965/7011 on Wednesday, rose against the Singapore dollar to 3.0163/0196 from 3.0177/0212 yesterday, while against the euro, it appreciated to 4.7891/7929 from 4.7987/8046 previously.

Vis-a-vis the British pound, the ringgit retreated to 5.4530/4586 from 5.4522/4591 on Wednesday. — Bernama

US data drags oil lower, US dollar up after Fed minutes

NEW YORK, Oct 18 — Oil prices fell yesterday after US crude inventories rose by much more than expected and exports fell, while the US dollar added to gains after minutes showed Federal Reserve policy makers largely united on the need to raise…

World stock recovery loses steam as European auto sector takes beating

LONDON, Oct 17 — A recovery by global stocks proved short-lived as warnings over a slowing European auto sector soured an upbeat mood, while Wall Street was set for a slightly lower open after enjoying its best session in eight months the previous…

Wall Street tumbles again, world equities at one-year low

NEW YORK, Oct 12 — Wall Street extended its slide into a sixth session and a global equity index fell to a 1-year low yesterday as investors feared an escalating US trade war with China and risks from a recent climb in interest rates. The Nasdaq…

European stocks shrug off trade worries as oil stocks rally

LONDON, Sept 13 ― European shares rose yesterday as oil and mining stocks rallied and investors shrugged off worries over trade tensions between the United States and China. The pan-European STOXX 600 rose 0.5 per cent, even though Asian stocks…

Global stocks look for direction in trade strife, oil prices leap

NEW YORK, Sept 13 ― An index of global stocks rose yesterday, helped by a report that Washington is proposing a new round of trade talks with Beijing and as resurgent oil prices pumped up energy shares. The United States is proposing new talks…

Bursa shows broad-based decline as KLCI retraces early gains


KUALA LUMPUR: Bursa Malaysia retraced its steps following a jump in early morning trade and ended in negative territory at midday. The stock exchange reacted to positive news over rising oil prices and tracked gains on Wall Street as it opened for business following a four-day weekend. However, it soon lost momentum and joined other Asian markets in the red as the threats of yet further US trade tariffs on Chinese imports rattled investors. Over the course of the morning session, the index traded in a range of 37.65 points.Read More