Crude oil prices inched closer to the US$50 per barrel mark, the highest it has traded in seven months, a telling sign for investors that the worst is most likely over for the commodity – for now.
However, top government officials and executives in the oil and gas (O&G) industry are guarded in their optimism, stating that it is still too early to make any revisions to the Budget 2016 projections.
As at press time, the price of the global benchmark Brent crude, which had hit US$49.47 earlier, was trading at US$48.82 per barrel, while US light sweet crude oil West Texas Intermediate was at US$47.78 per barrel.
Reflecting the oil price, the ringgit strengthened from a day earlier to reach 4.02 against the US dollar.
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However, top government officials and executives in the oil and gas (O&G) industry are guarded in their optimism, stating that it is still too early to make any revisions to the Budget 2016 projections.
As at press time, the price of the global benchmark Brent crude, which had hit US$49.47 earlier, was trading at US$48.82 per barrel, while US light sweet crude oil West Texas Intermediate was at US$47.78 per barrel.
Reflecting the oil price, the ringgit strengthened from a day earlier to reach 4.02 against the US dollar.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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