With supply continuing to exceed demand, it is hard to see where global crude oil will find its bottom. And for that matter, when the pressure on the ringgit will abate.
Global oil prices rebounded yesterday after hitting their 11-year lows on Monday. But the Malaysian currency remains under pressure due to concerns over the impact of persistently weak oil prices on the country’s economy, as well as the risk of a further devaluation of the yuan.
International benchmark Brent crude rose almost 1% to US$36.68 per barrel at 5pm yesterday ahead of the release of the US crude inventory and production report by the Energy Information Administration report later today.
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Global oil prices rebounded yesterday after hitting their 11-year lows on Monday. But the Malaysian currency remains under pressure due to concerns over the impact of persistently weak oil prices on the country’s economy, as well as the risk of a further devaluation of the yuan.
International benchmark Brent crude rose almost 1% to US$36.68 per barrel at 5pm yesterday ahead of the release of the US crude inventory and production report by the Energy Information Administration report later today.
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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