Oil prices fell 2% on Thursday on a surge in coronavirus cases that triggered fears of a hit to demand and the latest diplomatic spat between the United States and China, outweighing the benefit of a weaker dollar.
Brent futures fell $1.01, or 2.3%, to $43.28 a barrel, while West Texas Intermediate crude settled 1.98%, or 83 cents, lower at $41.07 per barrel.
According to established valuation principles, Dayang is undervalued by 55%.This does not mean the price will shoot up, but certainly it is a good bet at this is point. It is deemed a better value than Serba. It is matter of time before it moves up...when liquidity is directed to this counter.
puisi sepi seorang tua petualang.. ayuh kita dengar paktua berdendang..
setelah sekian lama berkelana.. jauh menghilang di rantau sana..
perit gerih..tak mampu hilang rindu di sini.. imbauan kasih tersemat padu di kalbu sanubari.
dayang terbuang sepi di gelangang.. helaian hulubalang mati terbungkang.. sakti petala dipadang,wadah juara didendang.. kini paktua pulang ,merah puaka di tentang..
tut tut dayang kembali berdendang.. paktua pulang ke gangang..
dear traders.. to be success trader.. its not about how much you earn.. but.. how tough you will be.. to stand tall on red sea.. stand hold on green rally.. no fear on red sea.. never greedy on green rally..
patience is the real best weapon.. to win in this battles war.. patience lead you to focus.. patience lead you to aimed more accurately.. patience will lead you to the victorious winner..
now ask you self.. how tough you would be.. cutlost or cut win? surrender when near to win? move a step backwards when all thrive ?
dayang will rise by his own strength.. dayang will walk step by step forward.. never in his mind to give up..
dayang will walk with or without you.. you greedy you will cutlost.. you fear you will cutlost..
paktua menyalak kembali.. ketika ramai kian tercengang-cengang.. nak maju atau berundur kebelakang..
paktua bukan sehari bertempur di medan saham.. bukan calang bermain digelora merah bahaya.... bukan alang bermain diarus hijau membara..
paktua bukan bodoh alang tanpa strategi.. bertempur di segala rally penuh berani .. jika dada tak berisi ilmu.. usah bermuka ingin beradu..
paktua bertempur di segenap gelangang.. biar gembita aura pahlawan bergema.garang.. di segenap medan perang..
undur bukan jalan dilangkah.. bertempur sehingga akhir darah.. biar bertongkat dagu.. biar berengsot bahu.. menyerah TIDAK SESEKALI!! rm2.00 destinasi di nanti.. https://youtu.be/y7Omvsr_fj8
kalah bukan pilihan.. biar mati berkecai badan.. namun berjuang tetapku teruskan..
dear dayang believer.. you remember? in day one you're champions.. from day one you're fighters..
as your self..how old you're.. why now you give up.. burn your hope..
do you remember.. on first step you was Take to walk.. imagine not even 2 years old.. you need to fight for survive..
do you remember.. how many you fail n collapse .. yes pain..very pain.. but.. you knew that failure is part of success.. you knew the lesson.. what make you progress..
why..why..now after a millions step.. suddenly you say.. I worthless..I give up.. come on wake up. release the champion out.. come on yelling to darkness.. you are the light.. let we hear this..
pardon me. many here i guess seem to have lost faith in dayang. while brent is edging up by favorable news, it turns against us instead. i maybe wrong, this could be in anticipation of unfavorable 2q results as others in energy sector would face.
if u have u keep bro..i still keep and topup even drop now...bcos it will bounce up again..no fear on red sea, never greedy on green rally..we are the red army..
paktua ucapkan.. selamat hari raya to all muslim brothers.. and happy holidays to all dayang fighters.. . remember.. show not end yet..stay smart..play smart..
berakhir sudah hari bekerja.. berlapang dada ketika hari mulia.. jari ditadah kemaafan di minta.. semoga hari raya semua gembira..
RIYADH: Saudi Arabia may have little choice but to reduce the price of its oil as Opec and allied producers start to ease output curbs amid weakening demand that’s crashed the value of physical supplies.
Aramco is expected to cut the official selling price (OSP) for its flagship Arab Light grade by 48 US cents a barrel for September sales to Asia, the median estimate in a survey of eight traders and refiners across the region shows. It would be the first drop in four months after a series of hikes that came as Opec cut output and consumption recovered as Asian economies emerged from lockdowns.
A reduction in Saudi OSPs could signal a pause or even a reversal in the rapid recovery across oil markets from the coronavirus. While Asia led the world in the demand rebound, crude and product stockpiles remain stubbornly high and the pandemic is still surging or staging a comeback in many countries. Floods and logistical bottlenecks in China in recent weeks have also contributed to a slump in imports, while Indian fuel sales are dropping again.
September-loading cargoes of Arab Light for Asia could be priced at a 72 US cents a barrel premium to the average of benchmark Oman and Dubai crude prices, according to the survey. That’s down from a US$1.20 premium for August. Saudi Aramco typically releases its official prices in the first five days of the month.
The state-owned producer didn’t immediately respond to an e-mail seeking comment. Aramco is typically the first among Middle Eastern producers to announce monthly official prices, setting the tone for sellers in Iraq, Kuwait and Abu Dhabi.
The price of spot crude cargoes from Russia to Angola to Brazil has plummeted this month after a pull-back in purchases from top importers including China. Refining margins are still well below five-year lows on a seasonally adjusted basis in the Asian oil hub of Singapore, weighing on the ability of processors in the region to turn a profit and pay more for crude. — Bloomberg
We expect crude oil prices to trade sideways from its June average price in 3Q20 (USD43/bbl) on slower demand recovery arising from potential re emergence of lockdown measures from Covid-19, which has worsened in north/south America, Brazil and India. However, we expect the recovery in demand from countries recovering from Covid-19 (Europe, Middle East and China) to mitigate the potential lost in demand from severely affected nations. We believe that the oil market would be closer to its equilibrium in 4Q20 (USD50/bbl) and we expect Brent crude oil to average at USD44/bbl in 2020. We believe that Petronas would remain conservative on its capex spending and we expect it to come below its planned capex cuts of 21%. We believe that it is still not the time to bottom fish for upstream O
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
confidential
369 posts
Posted by confidential > 2020-07-22 21:46 | Report Abuse
wait for 10.30pm will know the oil price direction...then close the gap? :-p