us crude inventories

 
 

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

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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

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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


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Bursa shows broad-based decline as KLCI retraces early gains

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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