Rolling coverage of the latest economic and financial news as oil prices jump by more than 30% and the US jobless report reveals scale of coronavirus damage * US president claims oil production cut deal; Russia denies agreement * US initial jobless claims hit record; 6.6m people signed on last week * Earlier: One in four UK firms cut staff levels * Coronavirus – latest updates * See all our coronavirus coverage
13:11 EDT Closing summary: Trump sends oil prices rocketing and US jobless claims soar Donald Trump sent oil markets into an unprecedented buying frenzy on Thursday afternoon, after tweeting that Saudi Arabia and Russia had reached a deal on production cuts. Russia poured cold water on the details, saying there had been no deal, but it still put oil futures prices on track for the biggest daily rise ever. At the time of writing Brent crude futures prices had gained 22%. Here are the other important developments from today: * More than 6.6m Americans filed jobless claims last week, by far the largest number in history and an indication that unemployment could reach a record high. Economists said it was one of the starkest indications yet of the scale of the economic pain already inflicted on the US.
03/04/2020 2:28 AM
tkl88* In the UK, the experimental data from the Office for National Statistics said that a quarter of UK companies are already cutting staffing levels “in the short term” due to the coronavirus crisis. * British Airways confirmed that it will cut capacity by 90% year-on-year for April and May and furlough 30,000 cabin crew. * British Gas owner Centrica has joined the ranks of companies cancelling their dividends. It also announced £400m in spending cuts this morning. * National Express cancelled all of its services across the UK. And of course you can continue to follow all of our coverage of the coronavirus pandemic. In the UK, health secretary Matt Hancock says the government has written off £13.4bn of historic NHS debt:
03/04/2020 2:29 AM
tkl88Dow Jones closed at=> 21,413.44 (+469.93) (+2.24%)
03/04/2020 6:06 AM
tkl88Oil surges 35% after Trump says he expects Saudi Arabia and Russia to end their price war Shalini Nagarajan Apr. 2, 2020, 05:51 AM
* Oil prices surged as much as 35% on Thursday after President Donald Trump said he expected Saudi Arabia and Russia to reach a deal that could end their price war and likely mitigate a sharp price collapse. * Trump said he spoke with leaders in both countries as global demand for oil continues to evaporate while much of the world is in lockdown. * A Saudi Arabia-Russia pact is expected to scale back a supply surge that led to US oil tumbling to an 18-year low earlier this week. * Watch oil trade live here.
Oil rallied sharply on Thursday after President Donald Trump said he expected Saudi Arabia and Russia to cut back on oil production to save the drowning oil and gas industry. Brent crude oil jumped as much as 47%, to $36.29, while West Texas Intermediate crude rose 35%, to $27.39, at intrasession highs. The resource started rallying on Wednesday after Trump first signaled a potential agreement between Saudi Arabia and Russia. Trump provided different volume estimates in separate tweets, first mentioning a cutback of about 10 million barrels and then suggesting it could be "as high as 15 Million Barrels." Trump said on Wednesday that he believed a deal would be reached within days. Such a deal is expected to lower production and bring prices back up. Trump also said he had invited American oil executives to the White House to discuss measures to aid the oil industry, which has been hurt by a slump in demand due to both the coronavirus outbreak and the price war. The oil strategy meeting would include CEOs from Exxon, Chevron, Occidental Petroleum, Devon Energy, Phillips 66, and Energy Transfer Partners, as well as the former Continental Resources CEO Harold Hamm, according to CNBC.
tkl88Saudi Arabia calls for emergency oil meeting: state media THU APR 2, 2020 / 10:55 AM EDT Reuters https://www.google.com.my/amp/s/mobile.reuters.com/article/amp/idUSKBN21K2AD
(Reuters) - Saudi Arabia called on Thursday for an emergency meeting of OPEC and non-OPEC oil producers as it aims to reach a fair oil agreement to stabilize the oil market, state news agency SPA reported.
mfKUALA LUMPUR (April 3): Amid the Covid-19 pandemic this year, Malaysia's unemployment rate is expected to shoot up to 4% this year, from 3.3% in 2019, said Bank Negara Malaysia (BNM).
Labour market conditions, in general, are expected to be weak this year, affected by the Covid-19 pandemic.
03/04/2020 1:39 PM
pinetree88Perdana performance today disappointing lei... never surge much then reversed to red. Thought today can see 20c.
03/04/2020 2:12 PM
icepumpkinI sold liao this morning. Even oil price increase bit.. the demand is low and supply is high.
tkl88Wow, Oil price spike up crazily again ! As at 4.05pm, Nymex => $25.46 (+0.14) (+0.55 percent) Brent => $31.35 (+1.41) (+4.71 percent)
03/04/2020 4:09 PM
tkl88Wow, Amazing, Oil price continue to spike up ! As at 6.37pm, Nymex => $26.52 (+1.20) (+4.74%) Brent => $32.77 (+2.83) (+9.45%)
03/04/2020 6:55 PM
signalmwnext week crude oil down RON 95 DOWN... HAHA.
03/04/2020 7:27 PM
tkl88Walaoeh, Unbelievable ! Oil price spike up like mad ! As at 11.10pm, Nymex => $27.19 (+1.87) (+7.39 percent) Brent => $33.71 (+3.77) (+12.59 percent)
03/04/2020 11:24 PM
tkl88Oil surges 13% on reports that OPEC and allies are working on a deal to cut production amid the coronavirus pandemic Carmen Reinicke Apr. 3, 2020, 10:27 AM
* Oil prices surged Friday, continuing gains from the best day on record Thursday. * US West Texas Intermediate crude surged as much as 13% to $28.56 per barrel Friday, while Brent crude jumped 17% to $34.91 per barrel at its intraday highs. * A Reuters report that OPEC and its allies will meet Monday to discuss a production cut amid the coronavirus pandemic fueled the gains. * Watch oil trade live on Markets Insider. * Read more on Business Insider.
03/04/2020 11:56 PM
tkl88Oil climbed on Friday, extending gains from the best day on record Thursday, after OPEC and its allies said they will meet Monday to discuss a production cut amid the coronavirus pandemic, according to a Reuters. US West Texas Intermediate crude surged as much as 13% to $28.56 per barrel after gaining 25% Thursday. International benchmark Brent crude jumped 17% to $34.91 per barrel at its Friday intraday highs, continuing the previous day's 21% gain. The cut could be around 10% of global supply, Reuters reported Monday, citing an OPEC source. The meeting to discuss a potential deal to curb production came after President Donald Trump told CNBC Thursday he expected Saudi Arabia and Russia to announce a deal to drastically cut oil production.
03/04/2020 11:56 PM
GodofgamblerI have high hope on Perdana... Perdana is much better than other oil and gas counter
04/04/2020 12:45 AM
tkl88Superb, Oil Price closed at new record high ! Nymex => $28.97 (+3.65) (+14.42%) Brent => $34.83 (+4.89) (+16.33%)
Next week definitely will break the USD $40 per barrel ! Huat ah ! Heng ah ! Ong ah !
RedEagleWASHINGTON – Presiden Amerika Syarikat (AS), Donald Trump percaya Rusia dan Arab Saudi akan berbincang semula dan mengakhiri perang harga minyak tidak lama lagi dengan menurunkan pengeluaran sekali gus menstabilkan semula harga minyak.
“Saya akan bertemu dengan pengeluar-pengeluar minyak pada hari Jumaat. Saya juga akan bertemu dengan pengeluar-pengeluar minyak bebas sama ada pada hari Jumaat atau Sabtu. Mungkin hari Ahad, kami ada banyak mesyuarat mengenainya,” katanya.
Tambah beliau, industri minyak di seluruh dunia telah musnah dan ia tidak baik untuk Rusia dan Arab Saudi.
”Maksud saya, tidak baik untuk kedua-duanya. Saya rasa mereka akan membuat perjanjian,” ujar beliau.
Harga minyak dunia telah jatuh kira-kira dua per tiga tahun ini kerana koronavirus yang telah menjejaskan ekonomi global.
Keadaan ini diburukkan lagi dengan limpahan minyak oleh pengeluar utama dunia, Arab Saudi dan Rusia.
Kejatuhan harga minyak memberi ancaman kepada industri penggerudian AS sekali gus mengakibatkan pemberhentian kerja besar-besaran dan muflis.
Trump dijangka membincangkan pelbagai pilihan untuk membantu industri, termasuk kemungkinan tarif import minyak dari Arab Saudi, menurut Wall Street Journal.
Presiden AS itu pada minggu ini menyifatkan perang harga minyak antara Rusia dan Arab Saudi sebagai ‘gila’.
Dua pemimpin tenaga dari dua negara itu kemudian saling berhubung dan bersetuju untuk meneruskan perbuncangan dengan pengeluar-pengeluar utama minyak global.
Malah, pentadbiran Trump juga merancang untuk menghantar wakil khas ke Riyadh untuk membincangkan mengenai penurunan pengeluaran.
Arab Saudi telah meningkatkan bekalan minyak mentah pada hari Rabu kepada lebih 12 juta tong sehari, menurut sumber industri, biarpun permintaan menurun. –
04/04/2020 11:50 AM
GodofgamblerPerdana is golden egg goose.. Perdana is much better compare to sapnrg, velesto and hibiscus
04/04/2020 4:57 PM
ExpertiseMonday meeting will decide how far perdana will go....huat ar
04/04/2020 6:56 PM
up88upMonday got delayed till 8 or 9 Apr, can collect more!
04/04/2020 7:03 PM
GodofgamblerMonday delay good sign. Got few more days to up the price..after meeting up again.
04/04/2020 7:20 PM
GodofgamblerThen when coronavirus getting less up again.. Zero infection up again... US shale gas all bankrupt up again.. Vaccine corona virus out up again.. Areoplane can jalan travel up again.. Economy getting better up again.. Djia better up again... Malaysia 2020 tourism year continue up again.. Trump win election up again..
04/04/2020 7:40 PM
RedEagleMOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.
Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.
“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.
Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.
Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.
Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.
Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP
04/04/2020 8:02 PM
tkl88The alliance (OPEC+) is tentatively aiming to hold the virtual gathering on April 9 instead of Monday as it previously intended, a delegate familiar with the matter said.
05/04/2020 12:26 AM
tkl88Meeting suppose on April 6 (Monday), delayed to April 9 (Thursday). So, got 3 more days for us to Sailang on O & G stocks before it’s share price spike up to sky high ! Huat ah ! Heng ah ! Ong ah !
05/04/2020 12:26 AM
tkl88普京证实俄愿减产 April 5, 2020 https://www.google.com/amp/s/www.enanyang.my/news/20200405/%25E3%2580%2590%25E5%2585%25A8%25E7%2590%2583%25E5%25A4%25A7%25E6%258A%2597%25E7%2596%25AB%25E3%2580%2591%25E6%2599%25AE%25E4%25BA%25AC%25E8%25AF%2581%25E5%25AE%259E%25E4%25BF%2584%25E6%2584%25BF%25E5%2587%258F%25E4%25BA%25A7/amp/
GodofgamblerPerdana is the best... Now super low price... More room to go up..
05/04/2020 12:37 PM
GodofgamblerChina today plan to buy all the oil for its emergency reserves and snatch up cheaper barrels for its stockpiles. Most likely oil price will rally another week. Good news for global oil market.
05/04/2020 3:57 PM
tkl88Yemen’s Saudi-aligned government says Houthis attacked oil pipeline pumping station in Ma’rib: Saudi Press Agency / The Mighty 790 KFGO | KFGO Thomson Reuters April 05, 2020 01:45 am
DUBAI (Reuters) - The oil ministry of the internationally-recognized, Saudi-aligned government in Yemen said on Sunday the Iran-aligned Houthi group had attacked an oil pipeline pumping station in the province of Ma'rib, the state-run Saudi Press Agency reported. The pipeline is operated by the Safer oil company, owned by Yemen's Saudi-aligned government, the agency added, without giving details on the attack. A spokesman for the Houthi group was not immediately reachable for comment.
(Reporting by Maher Chmaytelli; Editing by Mark Potter)
05/04/2020 6:20 PM
James Nghttps://klse.i3investor.com/blogs/general/2020-04-05-story-h1485816222.jsp [转贴] [Facebook live video:浅谈Perdana Petroleum bhd (Perdana)] - James的股票投资James Share Investing
05/04/2020 9:23 PM
tkl88Dow Jones Futures spike up ! As at 6,15 am, DJI futures at => 21,207.5 (+262.5) (+1.25%)
LegendNEW YORK (April 6): Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday's trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production.
06/04/2020 7:31 AM
tkl88Dow Jones Futures spike up ! As at 9.17am, DJI futures at => 21,555.0 (+598.0) (+2.85 percent)
tkl88Wow, Amazing ! Damn hot man Perdana today ! What happend? Morning session Perdana closed at 0.18 (+0.01) (+5.9%) ! Today Perdana probably can closed at 0.30 (+0.13) (+76.5 %) ! Keep it up Perdana !
Huat ah ! Heng ah ! Ong ah !
06/04/2020 12:48 PM
tkl88Wow, Oil price going to turn green liao ! As at 2.07pm, Nymex => $28.08 (-0.26) (-0.92%) Brent => $34.00 (-0.11) (-0.32%)
06/04/2020 2:15 PM
tkl88Wow, Superb ! Now Perdana traded at 0.185 (+0.015) (+8.8%) Keep it up Perdana !
Huat ah ! Heng ah ! Ong ah !
06/04/2020 3:26 PM
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