1.50 TP

SINGAPORE (June 24): Oil prices nudged higher in Asian trade on Wednesday on hopes for stronger than expected U.S. crude demand, while doubts over the prospect of reaching an agreement next week on Iran's nuclear programme eased oversupply concerns.

Brent crude for August delivery climbed 3 cents to $64.48 a barrel by 0602 GMT, after settling up $1.11, or 1.8 percent, in the previous session.

U.S. crude for August delivery gained one cent to $61.02 a barrel, after rising 63 cents the day before.

"U.S. crude inventories have been at historic highs ... but the thing is crude inventories may have peaked after oil demand picked up in June," said Tony Nunan, oil risk manager at Tokyo's Mitsubishi Corporation.

"$60 a barrel is the new normal for the next several months."

Mitsubishi analysts forecast U.S. oil demand would grow by 1.4-1.8 million barrels per day (bpd) in June from the same month last year, Nunan said.

The U.S. Energy Information Administration said on June 9 that U.S. oil demand would rise to 19.41 million bpd this year, up from 19.03 million bpd last year,

The American Petroleum Institute (API) forecast on Tuesday that U.S. commercial crude oil stocks fell by 3.2 million barrels last week, larger than analysts' expectations of a 1.5-2.1 million barrel draw and the eighth straight week of declines.

The U.S. Energy Information Administration will release official stockpile data later on Wednesday.

"Although crude inventories could cause prices to move higher, we expect to see strong resistance at $61.80 and $65 for West Texas Intermediate and Brent. Therefore, expect prices to remain unchanged," Singapore's Phillip Futures said in a note on Wednesday.

Nunan said there were roadblocks to an agreement next week between Iran and six world powers on Tehran's nuclear programme that would end sanctions and allow Iran to boost oil exports.

That followed Tuesday's decision by Iran's parliament to pass a bill banning access for U.N. inspectors to its military sites and scientists.

Iran's Supreme Leader, Ayatollah Ali Khamenei, also ruled out freezing sensitive nuclear work for a long time. France and the five other world powers want Iran to halt parts of its nuclear programme for at least 10 years.

"June 30 is a self-imposed deadline, so it could be put off," Nunan said.

Any gains were capped by a firm dollar following reasonably strong U.S. data. A strong dollar makes commodities priced in other currencies more expensive.

short

becareful

1.30 broken hoho

haven't finish story? monopoly business

KUALA LUMPUR (June 24): Special purpose acquisition company (SPAC) Sona Petroleum Bhd said it is still confident of meeting its July 30, 2016 deadline to make a qualifying acquisition (QA), following its failed move to acquire Salamander Energy (Bualuang Holdings) Ltd.

Despite the July 2016 deadline giving slightly more than a year for the SPAC to make its QA, Sona (fundamental: N/A; valuation: N/A) chairman Andre van Strijp said the company still has enough time to properly evaluate its options.

“It’s not necessary to make the QA now, because we still have time to analyse and check the best QA. We are aware of the time needed to obtain the approvals, we have experience in that. We still have sufficient time. It’s a compromise between making the QA now and optimising our choice,” he said.

Sona managing director Datuk Seri Hadian Hashim said the company was still focusing on the Southeast Asian, Middle Eastern and African regions, aiming to acquire low risk small-to-medium exploration and production (E&P) assets.

“There are shortlisted candidates, with varying degrees of maturity. Due diligence works are being carried out. We are confident that we would be able to do the QA within the timeframe specified,” he said, addressing a press conference following the company’s annual general meeting today.

He added that Sona is looking at onshore and shallow water projects, and is not looking at acquisitions outside of the specified regions.

At 12.30pm, Sona was unchanged at 42 sen, with a market capitalisation of RM592.5 million.

next week only got show

May be you can use this counter to learn it. Real life experience always good haha.

peace peace.

it's very common for newbie in stock don't understand how the dividend works.

Syareel, i only can suggest you go google or ask brokers/friends to check out how the entire progress for dividend payout.

ah jib, when wan fly? kenapa macam ini? belakang tak da support?

kikiki

graph looks not good

Below .3 is a good buy

falling knife

up up

falling

Boring day, please spend more time with your family and your love one.

Goodbye, back home pangsai but definitely not lao sai

China a lot of people start jumping from high floor now ma

wish malaysia won't have much

not acceptable and incompetent mangement

wau gap up

yaya better than ntg, for small holders then also ntg, for big holders then still beli banyak benda la.

wish tomorrow continue all the way up

Nicole Nicole Laosai
23/06/2015 16:51

This is not acceptable!!!!!!!!!!!!!!!!!!!!!!!!

haha...lao sai! up 10% then is rocket?

don't care the dividend la hahah..so less, lazy count.

haha...

up and down apa bikin?

you wait their server up then see can find the article still there or not lol

what a joke, The Edge server down after i spread the news?

becareful

OLD MAN still spicy

walau, someone remove the post at the edge newspaper.

fish or flitch? susah lah

yungks, pls go back study, don't kacau here

result is A-,means remain not downgrade, not like those alimama spread rumours ok

aiyo server down is it, thats why you can't read it LOL

the evil guy buy low sell high for earn capital and then go setup his own business la...haha

“A shock to interest rates or employment that is enough to impair households’ debt servicing capacity or trigger a need for sovereign support to the banking system.


this sentence power haha

itudia, malaysia boleh

ozzie, i can't get you.

KLCI break new high soon

i'm collecting la but failed to get it haha

superb leg don't shake

http://www.theedgemarkets.com/my/article/fitch-places-malaysia-negative-outlook

http://www.theedgemarkets.com/my/article/fitch-places-malaysia-negative-outlook

yeah you are welcome

http://www.theedgemarkets.com/my/article/fitch-places-malaysia-negative-outlook

evening show again? may be

haha, jangan yayapapaya, satu malaysia ok

greece's talk also settle soon la

FLY liao fly liao

still don't wan buy
??

hello everyone!