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Ringgit opens 120 basis point higher on firmer oil prices
KUALA LUMPUR: The ringgit opened higher against the US dollar for the third consecutive day, riding on the firmer crude oil prices fuelled by the Organisation of the Petroleum Exporting Countries+’s (OPEC+) production decision. At 9.01am, the local unit was traded
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Oil drops over $1 on oversupply after OPEC+ delays meeting
SINGAPORE/NEW YORK: Oil prices slipped more than $1 a barrel on Monday, after the world’s top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Brent crude
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Saudi Arabia, Russia raise stakes in oil production standoff
DUBAI/MOSCOW: Saudi Arabia said yesterday it would boost its oil supplies to a record high in April, raising the stakes in a standoff with Russia and effectively rebuffing Moscow’s suggestion for new talks. The clash of oil titans Saudi Arabia
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Najib: ‘Thank you Pakatan for destroying the country’s economy’
PUCHONG: Former prime minister Datuk Seri Najib Tun Razak today ‘congratulated’ the former Pakatan Harapan government for putting the nation’s economy in turmoil. In a Facebook post today, Najib said that he had warned the Pakatan government in the past
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Oil price plunge, coronavirus fears unleash market chaos
TOKYO: Financial markets have been thrown into turmoil following Saudi Arabia’s response, to the collapse of OPEC+ talks and concerns about the global spread of the coronavirus. Following are comments from analysts: John Lekas, CEO, Leader Capital, Vancouver, WA: “We
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Oil rises in short term even there is fear COVID-19 spreads
TOKYO: Crude prices edged up today as investors covered short positions after three sessions of losses, even as fears deepened that the rapid spread of the coronavirus will lead to a global pandemic. Brent crude rose 42 cents, or 0.8%,
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Oil climbs on US-China trade optimism, Middle East tensions
Oil prices rose on the first trading day of 2020 as warming trade relations between the United States and China eased demand concerns, and rising tensions in the Middle East raised worries about supply. Global benchmark Brent crude futures LCOc1,
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US-China trade: Oil prices hit highest in three months
Oil prices extended gains today, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world’s two biggest economies that has raised big questions about global demand for crude.
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Oil slips as US stocks rise, but hopes for US-China trade deal stem losses
Oil eased today following an industry report showing a surprise build in US crude stockpiles, but hopes surrounding the signing of the first phase of a US-China trade deal prevented a bigger drop in prices. Brent crude futures LCOc1 dropped
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Oil rises on hopes for OPEC supply curbs, optimism on US-China trade deal
Oil prices posted early gains as OPEC’s outlook for oil demand next year fueled hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month. Optimism that
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