NEWS | Apr 16, 22:41 GMT
Further losses in the US Dollar index seem likely in coming days - BBH
By Ivan Delgado
The analysis team at BBH provides a comprehensive review on the latest developments in the FX market, noting that the US Dollar snapped a two-week advance and shed about 0.65% last week, adding that further losses in DXY seem likely in the coming days.

Key Quotes

Further losses in the US Dollar index seem likely in the coming days, as the technical condition deteriorated. Initial support is seen in the 99.80-100.00 area, and a break, which seems probable, given the position of the technical indicators, would target the 99.00 area, where the recent leg up began and housed the 200-day moving average. The five-day moving average is looks poised to fall back below the 20-day moving average next week. A move above the downtrend line connecting the January and March highs, and approached last week would lift the tone. It is found near 101.40 at the start of the new week, falling about two ticks a day.

The euro was among the poorest performers among the major currencies last week, gaining 0.25%. However, there was little enthusiasm to sell the euro below $1.06, where the trend line drawn off the January and March lows comes it. It is not traded above $1.07 yet in April. The Slow Stochastics have turned higher, and the MACDs also look poised to turn in the coming days. The $1.0680-$1.0700 offer initial resistance, and to be sure, cautiousness may prevail ahead of the French presidential election. Above there, potential extends toward $1.0740, and possibly $1.0780. The latter may be a bit of a stretch, but reachable if the deadlocked French polls shift back to Macron or if US yields fall further after the soft US CPI and headline retail sales before the weekend.

The Japanese yen was the strongest currency in the world last week, gaining nearly 2.3% against the dollar. It was yen's biggest weekly gain since last July. We argue it is an exaggeration to think of this as a safe haven characteristic of the yen. Even though foreign investors were not buyers of roughly JPY1 trillion of stocks and bonds in the week ending April 7, it was less than the previous week. And Japanese investors sold more than twice as many foreign bonds (short-covering). In the 14 weeks so far this year (through April 7), Japanese investors bought foreign bonds in five weeks.

We suggest that the real safe haven was US Treasuries, where despite the holiday-shortened week, the 10-year yield tumbled 14 bp, driving yields almost 2.21%. It is the lowest yield in nearly five months. The drop in US yields, we suspect, spurred buying back of previously sold yen and discourages fresh portfolio flows out of Japan. Given Japan's growing current account surplus, anything that detracts from capital outflows spurs yen appreciation.

The dollar finished below the 200-day moving average (~JPY108.80) against the yen for the first time since the US election, which also corresponds to the lower Bollinger Band. The 61.8% retracement of the dollar's rally since the election is found close to JPY107.85. Previous support at JPY110 now serves as resistance.

The British pound was the second strongest currency among the majors. It rose about 1.25% against the greenback, and the five-day moving average moved above the 20-day. The technical indicators are not generating very clear signals, but we see initial potential toward $1.2600-$1.2620. Above there lies the year's high set in early February a little above $1.2700. We suspect sterling may begin the week on firm footing, but anticipate a softer close, The BRC data warns of weakness in retail sales, which will be reported at the end of the week. It is likely to be the fourth decline in the past five months.

The US dollar was stymied by CAD1.3340 in the last three sessions. It corresponds to the 50% retracement of the decline from the April 4 high near CAD1.3455. In the last seven sessions, the US dollar has gained in only one. The 61.8% retracement is near CAD1.3365. The greenback held the 200-day moving average (~CAD1.3225) at the lows. The US two-year premium over Canada has narrowed by almost ten basis points since March 28, but it is holding a trend line drawn from last October and this past February's lows. Our correlation work also shows that the Canadian dollar has become more sensitive to the price of oil.

TP for mother 0.25. Her son will be 0.18

Don't miss the boat. Psiptek moving upward to 0.20 and above. Net total asset worth 0.59.https://klse.i3investor.com/blogs/stockalliance/120744.jsp

Psiptek is started to move upward. Nta is 0.59. Now at 0.20

Psiptek rise from last week 0.17 to 0.20. Today highest 0.215.https://klse.i3investor.com/blogs/stockalliance/120744.jsp

Psiptek already break 0.20 to 0.215.https://klse.i3investor.com/blogs/stockalliance/120744.jsp

Psiptek is upwarding. For more info.https://klse.i3investor.com/blogs/stockalliance/120744.jsp

Conclusion

With the trilling events we have mentioned/updated above, we strongly believe PSIPTEK still have higher upside. With the industry PE of Zelan (Negative PE), Johan (Negative PE) approximately 25, the share price should be valued at RM0.35 (havent taken account of future earning growth), 75% upside from current price.

See. Already highest, 0.215. Up up up.

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This link show room of growth in psiptek. https://klse.i3investor.com/blogs/stockalliance/120744.jsp

This link why psiptek will will have room of uptrend. https://klse.i3investor.com/blogs/stockalliance/120744.jsp

US Treasury decides China isn't playing with its currency
Beijing's yuan-buying and hopes for help with North Korea mean no action for now
SETSUO OTSUKA, Nikkei staff writer

© AP
NEW YORK -- The U.S. Treasury Department has decided not to label China a currency manipulator in a report published Friday on the foreign exchange policies of America's key trading partners, backing away from President Donald Trump's campaign promise to do so.

The move was apparently taken out of consideration for China, which the U.S. hopes will help rein in North Korea's nuclear and missile programs.

This was the Trump administration's first release of the twice-yearly report, which evaluates the foreign exchange policies of major U.S. trading partners.

Although the report did not signal a major shift in Washington's own currency policy, it is likely Trump will try to use the issue as a bargaining chip in negotiations with other countries. The U.S. may try to limit the dollar's rise against the yen in its first economic dialogue with Japan, scheduled for Tuesday. Japan's large trade surplus will probably be high on the agenda.

Trump's Treasury Department used the same standards for determining currency manipulation as those of the previous administration under President Barack Obama. The report kept China, Japan, South Korea, Taiwan, Germany and Switzerland on a watch list as they met some of the criteria.

China does not fully meet the department's definition of a currency manipulator because it has recently been buying yuan to prevent a sudden drop in the Chinese currency, instead of steering it lower. However, the report said that if there is upward pressure on the yuan in the future, China should allow the currency to appreciate according to market conditions.

With respect to the Japanese currency, although the yen rose 1% against the dollar between January and February, the report said there is no evidence the currency is overvalued.

The report found the yen's real effective exchange rate, which measures the value of the currency against a basket of counterparts, is 20% lower than the 20-year average. It also suggested that the yen may rise further and warned Tokyo against yen-selling intervention, saying such a step should be taken only in exceptional circumstances.

Psiptek up to 0.20 this Friday. It will goreng soon next week. Its net total assest is 0.59.

Recently, psiptek have risen to 0.20. It will goreng soon. Net total asset is 0.59.

Psiptek have rose to 0.20 this Friday. It will uptrend soon. Its nta is 0.59.

Hope it drop to 0.14.

Wait small kaki run first. When cheaper, sapu semua.

Next TP 0.20. Next wave.

Investing #​MarketMovesAPR 13, 2017 @ 03:30 PM 462
Gold, Silver Hit 5-Mo. Highs Amid Weaker U.S. Dollar, Bullish Technicals





Kitco News , CONTRIBUTOR


Opinions expressed by Forbes Contributors are their own.
(Kitco News) - Gold and silver prices ended the U.S. day session higher and scored five-month highs Thursday. The gold market continues to see an updraft from safe haven demand amid a rise in geopolitical tensions. A slide in the U.S. dollar index this week also favors the precious metals market bulls. The near-term chart postures for gold and silver have turned more bullish this week, and that’s inviting more technical buyers. June Comex gold was last up $10.50 an ounce at $1,288.50.May Comex silver was last up $0.255 at $18.555 an ounce.

Heightened geopolitical risks are still on the front burner of the world marketplace. A meeting between the U.S. secretary of state and Russia’s foreign minister ended Wednesday without agreement and likely pushed the two sides deeper into divisiveness. Secretary of State Rex Tillerson said Russia and the U.S. just don’t trust each other. And during a press conference on Wednesday afternoon Trump said U.S. relations with Russia are “bad.” Trump at the same time praised Chinese leader Xi Jinpin. That move could have been calculated by Trump, as he appeared to suggest a warming relationship with China and its third-strongest military in the world, and one that has the most influence over North Korea. The U.S. Navy has warships headed for waters off the Korean peninsula. Trump also said he is not going to name China as a currency manipulator—likely in exchange for China doing some arm-twisting on North Korea.

It was just announced Thursday the U.S. dropped its biggest non-nuclear bomb on ISIS terrorists in Afghanistan recently. That’s the first time this bomb has ever been used, other than in testing. It’s likely a calculated message from Trump to all actors in the world who want to do the U.S. harm. I mentioned at the beginning of the year that geopolitics will be more of a markets-mover in 2017 than in recent years. Such is proving to be the case with a more militarily hawkish U.S. president.

Late Wednesday afternoon the Wall Street Journal released an interview with President Trump, in which he said the thinks the value of the U.S. dollar is too strong and that U.S. interest rates should remain low. This news caught the markets off guard. The U.S. dollar index sunk, gold and U.S. Treasuries rallied and the U.S. stock market sold off. Trump appears to now be siding with Fed Chair Janet Yellen, after he ostensibly said he would like to fire her when he was campaigning last fall.

Investing #​MarketMovesAPR 13, 2017 @ 03:30 PM 462
Gold, Silver Hit 5-Mo. Highs Amid Weaker U.S. Dollar, Bullish Technicals





Kitco News , CONTRIBUTOR


Opinions expressed by Forbes Contributors are their own.
(Kitco News) - Gold and silver prices ended the U.S. day session higher and scored five-month highs Thursday. The gold market continues to see an updraft from safe haven demand amid a rise in geopolitical tensions. A slide in the U.S. dollar index this week also favors the precious metals market bulls. The near-term chart postures for gold and silver have turned more bullish this week, and that’s inviting more technical buyers. June Comex gold was last up $10.50 an ounce at $1,288.50.May Comex silver was last up $0.255 at $18.555 an ounce.

Heightened geopolitical risks are still on the front burner of the world marketplace. A meeting between the U.S. secretary of state and Russia’s foreign minister ended Wednesday without agreement and likely pushed the two sides deeper into divisiveness. Secretary of State Rex Tillerson said Russia and the U.S. just don’t trust each other. And during a press conference on Wednesday afternoon Trump said U.S. relations with Russia are “bad.” Trump at the same time praised Chinese leader Xi Jinpin. That move could have been calculated by Trump, as he appeared to suggest a warming relationship with China and its third-strongest military in the world, and one that has the most influence over North Korea. The U.S. Navy has warships headed for waters off the Korean peninsula. Trump also said he is not going to name China as a currency manipulator—likely in exchange for China doing some arm-twisting on North Korea.

It was just announced Thursday the U.S. dropped its biggest non-nuclear bomb on ISIS terrorists in Afghanistan recently. That’s the first time this bomb has ever been used, other than in testing. It’s likely a calculated message from Trump to all actors in the world who want to do the U.S. harm. I mentioned at the beginning of the year that geopolitics will be more of a markets-mover in 2017 than in recent years. Such is proving to be the case with a more militarily hawkish U.S. president.

Late Wednesday afternoon the Wall Street Journal released an interview with President Trump, in which he said the thinks the value of the U.S. dollar is too strong and that U.S. interest rates should remain low. This news caught the markets off guard. The U.S. dollar index sunk, gold and U.S. Treasuries rallied and the U.S. stock market sold off. Trump appears to now be siding with Fed Chair Janet Yellen, after he ostensibly said he would like to fire her when he was campaigning last fall.

US Dollar’s Trump Slump: Expectations + Reactions
Modified: Thursday, 13 April 2017 10:29 Written by Rob Samson Subscribe to our Newsletter
Trader reacts to the decline in the US Dollar
In an interview with the Wall Street Journal US President Trump said that the Dollar is “getting too strong” and that he prefers a “low interest rate policy”.
It appears Trump’s reference to lower interest rates has really caught attention with most analysts reading this to signify intent to appoint to the Federal Reserve board members who would share his view that low interest rates - and by proxy a lower Dollar - are appropriate.
The Trump administration set to appoint two new Fed Governors this year – and potentially a new Chair and Vice-Chair next year.
The US Dollar index - which is a measure of broader Dollar performance against a basket of currencies - endured its largest daily drop since mid-March on the comments.
US Dollar outlook rests with key moving average
To us it appears that further Dollar weakness is now likely and we would imagine that the Dollar index is intent on falling back towards the 200 day moving average which is denoted by the red line in the graph above.
We saw the index bounce back from this level back in March and would suggest this could be repeated.
However, losses towards the mid-99’s must be endured first.
Reactions
Kit Juckes at Societe Generale says further Dollar strength should be muted from here:
“President Trump doesn't like a strong Dollar, does like low interest rates, may yet offer Janet Yellen a second term, recognises that China isn't a currency manipulator, and is struggling to enact policies that will boost US growth.
“Looked at in that light, perhaps it's only to be expected that the Dollar is drifting lower. The medium-term case for the euro to usurp it as strongest of the major currencies grows steadily even if European political uncertainty holds it back in the short term.
“Looking ahead, it's tempting but probably unwise to write off the Dollar's prospects completely. The Fed isn't done tightening yet, the economy isn't done growing and we don't think we've seen the highs for yields yet.
“At this point, market expectations of a third Fed hike this year has faded significantly, and by too much. For all that though, further Dollar strength is going to be muted because by and large, economic prospects elsewhere are improving too.”

US Dollar’s Trump Slump: Expectations + Reactions
Modified: Thursday, 13 April 2017 10:29 Written by Rob Samson Subscribe to our Newsletter
Trader reacts to the decline in the US Dollar
In an interview with the Wall Street Journal US President Trump said that the Dollar is “getting too strong” and that he prefers a “low interest rate policy”.
It appears Trump’s reference to lower interest rates has really caught attention with most analysts reading this to signify intent to appoint to the Federal Reserve board members who would share his view that low interest rates - and by proxy a lower Dollar - are appropriate.
The Trump administration set to appoint two new Fed Governors this year – and potentially a new Chair and Vice-Chair next year.
The US Dollar index - which is a measure of broader Dollar performance against a basket of currencies - endured its largest daily drop since mid-March on the comments.
US Dollar outlook rests with key moving average
To us it appears that further Dollar weakness is now likely and we would imagine that the Dollar index is intent on falling back towards the 200 day moving average which is denoted by the red line in the graph above.
We saw the index bounce back from this level back in March and would suggest this could be repeated.
However, losses towards the mid-99’s must be endured first.
Reactions
Kit Juckes at Societe Generale says further Dollar strength should be muted from here:
“President Trump doesn't like a strong Dollar, does like low interest rates, may yet offer Janet Yellen a second term, recognises that China isn't a currency manipulator, and is struggling to enact policies that will boost US growth.
“Looked at in that light, perhaps it's only to be expected that the Dollar is drifting lower. The medium-term case for the euro to usurp it as strongest of the major currencies grows steadily even if European political uncertainty holds it back in the short term.
“Looking ahead, it's tempting but probably unwise to write off the Dollar's prospects completely. The Fed isn't done tightening yet, the economy isn't done growing and we don't think we've seen the highs for yields yet.
“At this point, market expectations of a third Fed hike this year has faded significantly, and by too much. For all that though, further Dollar strength is going to be muted because by and large, economic prospects elsewhere are improving too.”

Why Trump may be about to decapitate North Korea: James Robbins
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James S. Robbins |
Updated 6 hours ago
It isn't safe to wait until a dictator can strike America.
Imagine a world without communist North Korea. For the Trump administration, it’s easy if you try.
President Trump tweeted that Pyongyang is “looking for trouble” and that he would “solve the problem” with or without North Korea’s neighbor and patron China. This was the latest in an escalating exchange of threats in which the Kim Jong Un regime threatened nuclear retaliation if “even a single bullet” was fired at the Hermit Kingdom. Meanwhile, the USS Carl Vinson carrier strike group is headed towards the peninsula, and China has deployed 150,000 troops to the Korean border, possibly to mitigate the flood of refugees that would follow military action.

The USS Carl Vinson in the East China Sea on March 9, 2017.
Sean M. Castellano, AFP/Getty Images
The crisis is long in coming. Successive generations of policymakers have kicked the North Korea can down the road since the 1953 armistice. The Kim dynasty was allowed to maintain its totalitarian dystopia because the threat was mostly contained, and there was no solution that did not involve a general war that would devastate our prosperous democratic ally in South Korea. Instead, the world awaited the expected collapse of the nightmarish North Korean dictatorship. The collapse has yet to come.
Now the calculus has changed. North Korea has an active nuclear weapons program and is rapidly developing the capability to deliver these weapons to the United States mainland. Kim Jong Un, the communist state’s third dynastic ruler, is determined to have a seat at the strategic nuclear table. If the United States waits, one of the most bellicose, seemingly least rational regimes in modern history will have the capability to kill millions of Americans at a stroke.
The Trump administration has reportedly been drawing up contingency plans for solving the problem before millions of American lives are at stake. National Security Adviser Lt. Gen. H.R. McMaster said Sunday that deploying forces in the region was prudent and that President Trump has asked for “a full range of options to remove that threat to the American people and to our allies and partners in the region.” The Trump administration isn't the first to consider preemptive military action against North Korea. Defense secretaries from the Obama and Clinton administrations made the case in 2006. But active counterproliferation against North Korea’s nuclear and missile programs — which is to say, destroying them — has always been risky because of the threat of millions of North Korea troops swarming south.

North Korea prepares for ‘big event’ amid escalating US military pressure
APRIL 13, 201712:17PM
VideoImage

Trump says North Korea 'looking for trouble'


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Claire Bickers, staff writers, wires
News Corp Australia Network
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NORTH Korea is ready to launch a nuclear test at its Punggye-ri Nuclear Test Site, the 38 North monitoring group reported on Wednesday.
The 38 North analysis group described the test site as “primed and ready.”
“Commercial satellite imagery of North Korea’s Punggye-ri Nuclear Test Site from April 12 shows continued activity around the North Portal, new activity in the Main Administrative Area, and a few personnel around the site’s Command Center,” the North Korea-related analysis website said.
A barrage of recent North Korean missile tests has stoked US fears that Pyongyang may soon develop an intercontinental ballistic missile capable of delivering a nuclear warhead to the US mainland.
There is speculation that the country could be preparing a missile launch, or even another nuclear test -— this would be its sixth — to mark the 105th birthday anniversary of its founder Kim Il-Sung on Saturday.
Kim Jong Un is reportedly planning a nuclear test. Picture: Korean Central News Agency/Korea News Service via AP
Kim Jong Un is reportedly planning a nuclear test. Picture: Korean Central News Agency/Korea News Service via APSource:Getty Images


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Reports via the publicly-funded Voice of America and citing US officials said that North Korea “has apparently placed a nuclear device in a tunnel and it could be detonated Saturday AM Korea time.”
President Donald Trump’s administration has been forceful in its warnings to Pyongyang that leave military options “on the table,” as Secretary of State Rex Tillerson has said.
The threat carries extra weight after the US strike on a Syrian air base last week.
“We are sending an armada. Very powerful,” Trump said Wednesday.
“We have submarines. Very powerful. Far more powerful than the aircraft carrier.” He was referring to a strike group headed by the USS Carl Vinson supercarrier that has been re-routed to the Korean peninsula in a show of force against Kim.
U.S. Navy aircraft carrier, the USS Carl Vinson, will assist America’s military effort in North Korea. Picture: AP
U.S. Navy aircraft carrier, the USS Carl Vinson, will assist America’s military effort in North Korea. Picture: APSource:AP
The strike group, which deployed with about 6,500 sailors, is still some way south, conducting exercises with the Australian navy.
The US Navy already has a massive regional presence, including another carrier strike group headquartered at Yokosuka in Japan.

Kim Jong Un may conduct country’s sixth nuclear test soon
Tensions increased after Trump sends warships to region
North Korea’s nuclear test site appears “primed and ready” to conduct a trial, according to analysis by a U.S. research institute.

Commercial satellite imagery of the Punggye-ri site from April 12 shows continued activity around the north portal, new activity in the main administrative area, and a few personnel around the site’s command center, analysts wrote on the 38 North website.


A satellite image of the Punggye-ri nuclear test site on April 2.Photographer: DigitalGlobe/38 North via Getty Images
Tensions are mounting in North Asia amid expectations that North Korea may conduct its sixth nuclear test. Kim Jong Un’s regime has test-fired a series of ballistic missiles this year to advance its nuclear program, and the U.S. has dispatched a fleet of warships toward the Korean Peninsula.

President Trump tweeted that Pyongyang is “looking for trouble” and that he would “solve the problem” with or without North Korea’s neighbor and patron China. This was the latest in an escalating exchange of threats in which the Kim Jong Un regime threatened nuclear retaliation if “even a single bullet” was fired at the Hermit Kingdom. Meanwhile, the USS Carl Vinson carrier strike group is headed towards the peninsula, and China has deployed 150,000 troops to the Korean border, possibly to mitigate the flood of refugees that would follow military action.

The USS Carl Vinson in the East China Sea on March 9, 2017.
Sean M. Castellano, AFP/Getty Images
The crisis is long in coming. Successive generations of policymakers have kicked the North Korea can down the road since the 1953 armistice. The Kim dynasty was allowed to maintain its totalitarian dystopia because the threat was mostly contained, and there was no solution that did not involve a general war that would devastate our prosperous democratic ally in South Korea. Instead, the world awaited the expected collapse of the nightmarish North Korean dictatorship. The collapse has yet to come.
Now the calculus has changed. North Korea has an active nuclear weapons program and is rapidly developing the capability to deliver these weapons to the United States mainland. Kim Jong Un, the communist state’s third dynastic ruler, is determined to have a seat at the strategic nuclear table. If the United States waits, one of the most bellicose, seemingly least rational regimes in modern history will have the capability to kill millions of Americans at a stroke.
The Trump administration has reportedly been drawing up contingency plans for solving the problem before millions of American lives are at stake. National Security Adviser Lt. Gen. H.R. McMaster said Sunday that deploying forces in the region was prudent and that President Trump has asked for “a full range of options to remove that threat to the American people and to our allies and partners in the region.” The Trump administration isn't the first to consider preemptive military action against North Korea. Defense secretaries from the Obama and Clinton administrations made the case in 2006. But active counterproliferation against North Korea’s nuclear and missile programs — which is to say, destroying them — has always been risky because of the threat of millions of North Korea troops swarming south.
However, there may be a solution that at least lowers the risk. During last month’s combined exercises in South Korea, U.S. forces participated in a simulated decapitation strike to take out North Korea’s leadership. The decapitation option is attractive because all power in the totalitarian state is focused in Kim Jong Un. If he vanished, the state apparatus could well be paralyzed. North Korean generals would hesitate to take action because initiative has been bred out of the power structure; anyone with ideas and ambition has probably already been fed to the dogs.
Kim could well have sought to deter such a strike by issuing standing orders to initiate a spasmodic military strike in case of his death. But his underlings may not execute it. The model would be Adolf Hitler’s last-ditch “Nero Decree” to reduce Germany to scorched earth, which his staff chose to ignore. Senior North Korean leaders may recognize how much better life would be with the Kim regime gone; no more living under threat of being executed by anti-aircraft weapon for accidentally nodding off at a meeting, for example.

Psiptek net total asset is 0.59. Current share price is 0.19.

Psiptek nta at 0.59. Current price is 0.19.

Oil hits five-week top on geopolitical tensions, strong demand
A pump jack stands idle in Dewitt County, Texas January 13, 2016. REUTERS/Anna Driver
A pump jack stands idle in Dewitt County, Texas January 13, 2016. REUTERS/Anna Driver
By Naveen Thukral | SINGAPORE
Crude oil climbed to a five-week high on Tuesday, with prices underpinned by tensions following a U.S. missile strike on Syria and a shutdown at Libya's largest oilfield.

Additional support also came from expectations of strong demand as the U.S. summer driving season kicks in.

The international benchmark for oil prices, Brent crude futures LCOc1, climbed to their highest since March 7 at $56.16 a barrel. Brent was trading up 9 cents, or 0.2 percent, at $56.07 per barrel by 0135 GMT (9.35 pm ET).

U.S. West Texas Intermediate (WTI) CLc1 was trading 6 cents higher, or 0.1 percent, at $53.14 a barrel after climbing to a five-week high of $53.23 a barrel earlier in the session.

Brent is up for a seventh consecutive session, while WTI has risen for six straight days.

Libya's Sharara oilfield was shut on Sunday after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said. The field had only just returned to production, after a week-long stoppage ending in early April.

The outage added to a rally that started late last week after the United States fired missiles at a Syrian government air base.

While Syria produces only small volumes of oil, the Middle East is home to more than a quarter of the world's oil output.

"Both Brent and WTI open in Asia at their New York highs this morning, both within shouting distance of their post-OPEC rally highs," said Jeffrey Halley, senior market analyst at OANDA.

"Geopolitical tensions and a shutdown at Libya's largest oilfield continue to support crude."

The gain in oil prices comes despite rising U.S. shale oil production.

ALSO IN COMMODITIES

Libya's Sharara oilfield shut again as pipeline blocked: sources
BHP rebuffs Elliott's reform plan, says costs outweigh gains
"Crude oil prices were firmer as oil investors shrugged off rising U.S. supplies and looked forward to the summer driving season," ANZ said in a note.

U.S. crude inventories have touched record highs at both the U.S. storage hub of Cushing, Oklahoma, and in the U.S. Gulf Coast in recent weeks, according to U.S. government data.

Oil prices have also been supported by a deal led by the Organization of the Petroleum Exporting Countries to cut output by 1.8 million barrels per day for the first six months of 2017, to get rid of excess supply. Libya and fellow OPEC member Nigeria are exempt from cuts.

In a sign of OPEC confidence that the deal is working, Kuwait's oil minister said he expected producers' adherence in March to their supply cut pledges to "be higher than the previous couple of months."

(Reporting by Naveen Thukral; Editing by Richard Pullin)

Oil Markets Turn Bullish Amid Spiking Geopolitical Risk

By Nick Cunningham - Apr 10, 2017, 4:55 PM CDT
Offshore
The surprise airstrikes by the U.S. on a Syrian airfield late last week brought an element of geopolitical risk back to the oil markets, adding support to crude prices. Historically, conflict, or even just the threat of conflict, has pushed up oil prices, particularly back when supply was already tight and oil was trading at $100 per barrel. But the three-year bust in oil prices has moved geopolitical risk to the backburner because even a sizable outage in supply could have easily been handled by the enormous glut in the market.

To be sure, the Syrian war is not new – it is more than six years old. But the involvement of the U.S. could mark the beginning of a new, wider conflict and it comes just as the oil markets are showing some signs of tightening. The result is a sudden uptick in oil prices, pushing WTI and Brent to a one-month high.

Brent now @ $56.07/barrel

Us dollar index down to 100.98

Crude Oil Prices Extend Gains as G7 Grapples with Syria Crisis
Apr 11, 2017 7:18 am +08:00

by Ilya Spivak, Sr. Currency Strategist

Talking Points:

Crude oil prices extend gains as US hardens line on Syria
Gold prices mark time as Yellen hews to policy status quo
Day 2 of G7 summit, API inventory figures on tap ahead
Crude oil prices continued to push upward as US Secretary of State Rex Tillerson took a tougher line on the conflict in Syria at a meeting with his G7 counterparts. He said the US will “[hold] to account any and all who commit crimes against the innocents,” stoking fears of a deepening crisis that may disrupt supply flow.

The sit-down extends for another day and traders will probably continue to monitor emerging commentary with great interest. Tillerson travels to Russia immediately thereafter and worries about the outcome of a diplomatic showdown may keep prices elevated. APIinventory flow data is also on tap.

Oil Prices Pull Higher On Outage In Libya’s Biggest Oil Field

By Irina Slav - Apr 10, 2017, 10:41 AM CDT
Libya oil field
Production from Sharara, Libya’s biggest oil field, has stopped again, unnamed sources told Bloomberg. The sources said the pipeline that carries crude from Sharara to the Zawiya export terminal stopped operating on Sunday, without giving any further details.

The field produces 200,000 barrels of crude daily, contributing a large part of the country’s overall output, which stood at 700,000 bpd before last week. The first suspension of production at Sharara, as well as at a neighboring field, Wafa, occurred two weeks ago, when unnamed armed factions blocked the pipeline carrying oil to the coast, cutting the country’s total output by 252,000 bpd.

Brent now at $55.98/barrel

Us dollar index down to 101

Search Reuters
Oil rises towards $56 on Libyan field shutdown, Syria

COMMODITIES | Mon Apr 10, 2017 | 9:47am EDT
Oil rises towards $56 on Libyan field shutdown, Syria
A motorist holds a fuel pump at a Gulf petrol station in London April 18, 2006. REUTERS/Luke MacGregor/File Photo
A motorist holds a fuel pump at a Gulf petrol station in London April 18, 2006. REUTERS/Luke MacGregor/File Photo
By Alex Lawler | LONDON
Oil rose towards $56 a barrel on Monday, supported by another shutdown at Libya's largest oilfield, tension over Syria following the U.S. missile strike and signs that an OPEC-led supply cut is helping to clear excess supplies.

Libya's Sharara oilfield was shut on Sunday after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said. The field had only just returned to production, after a week-long stoppage ending in early April.

"It means that at least one potential source of additional supply has fallen away for the time being," said Carsten Fritsch of Commerzbank, referring to the Libyan outage.

Brent crude LCOc1, the global benchmark, rose 58 cents to $55.82 at 1332 GMT, not far from the one-month high of $56.08 reached on Friday. U.S. crude CLc1 was up 55 cents at $52.79.

Oil also climbed on heightened tension in the Middle East, a region that is home to more than a quarter of the world's oil output. Crude rallied last week after the United States fired missiles at a Syrian government air base.

"The developments in Syria should be factored in as an additional risk premium in the oil price going forward, especially now that oil inventories are drawing down and the market is no longer in massive surplus," said Bjarne Schieldrop, analyst at SEB.

He expects Brent to average $57.50 in the second quarter, "which means we are likely to see $60 printed at times during this period."

Oil prices have also been supported by a deal led by the Organization of the Petroleum Exporting Countries to cut output by 1.8 million barrels per day for the first six months of 2017, to get rid of excess supply. Libya, and another OPEC member Nigeria, are exempt from cuts.

In a sign of OPEC confidence that the deal is working, Kuwait's oil minister said he expected producers' adherence in March to their supply cut pledges to "be higher than the previous couple of months."

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The minister, Essam al-Marzouq, also said he saw "positive indications" in the decline of global oil stocks.

However, the price rally has been limited, as oil price gains have encouraged production in other countries such as the United States, filling some of the gap left by OPEC-led cuts.

U.S. drillers added oil rigs for a 12th straight week, Baker Hughes said on Friday, as energy companies boost spending on new production.

(Additional reporting by Henning Gloystein; editing by Louise Heavens, Jason Neely and Pritha Sarkar)

ent Crude Oil Continues Its Rise Toward $56

Reuters Monday, April 10, 2017 - 7:56am

Oil rose towards $56 a barrel (bbl) on April 10, supported by another shutdown at Libya's largest oil field and heightened tension over Syria following the U.S. missile strike.

Libya's Sharara oil field was shut on April 9 after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said. The field had only just returned to production, after a week-long stoppage ending in early April.

"It means that at least one potential source of additional supply has fallen away for the time being," said Carsten Fritsch of Commerzbank, referring to the Libyan outage.

Brent crude, the global benchmark, rose 68 cents to $55.92 at 7:09 a.m. CT (12:09 GMT), not far from the one-month high of $56.08 reached on April 7. U.S. West Texas Intermediate crude was up 63 cents at $52.87.

Oil also climbed on heightened tension in the Middle East, a region that is home to more than a quarter of the world's oil output. Crude rallied last week after the U.S. fired missiles at a Syrian government airbase.

Brent now $55.78/barrel

Perisai nta is 0.34. Current price is 0.07.

Alam Maritim Resources Bhd was awarded an RM34.0 mln contract to provide offshore construction subcontract work for a floating production, storage and offloading unit called Perisai Kamelia.
The contract includes demobilisation works worth RM34.0 mln with an additional scope for water treatment at provisional sum of RM1.0 mln.
Perisai Kamelia is owned by Perisai Petroleum Teknologi Bhd and is now operating in the North Malaysia Basin, offshore Peninsular Malaysia, until 31st May this year under an extended charter to Hess Exploration and Production Malaysia B.V. and Larizz Petroleum Services Sdn Bhd. (The Star Online)

There will be next wave of rise. Stay tune.

There are big one TRY to pull down the price to 0.18 to accumulate. "Tiny volume"

Brent @ 55.47/barrel

People who run earlier is stupid. Wasting time and money buy it and sell it before share price up. Better keep their money in banklah. This company is profitable and non pn17 man. Risk is lower than pn17 company.

They want to pull down the price, so that can accumulate in cheaper price before they goreng the share price.

Yup. When other company takeover perisai and oil price upward, perisai price will worth more.

Like MAS, govt will help it to survive in this critical situation.

Will the government help this company? Epf, LTH