WASCO BERHAD

KLSE (MYR): WASCO (5142)

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Last Price

1.26

Today's Change

-0.03 (2.33%)

Day's Change

1.26 - 1.29

Trading Volume

1,667,000


3 people like this.

2,705 comment(s). Last comment by Invest_888 3 days ago

tkl88

8,712 posts

Posted by tkl88 > 2020-04-05 00:22 | Report Abuse

The 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.

tkl88

8,712 posts

Posted by tkl88 > 2020-04-05 00:23 | Report Abuse

Meeting 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 !

tkl88

8,712 posts

Posted by tkl88 > 2020-04-05 06:55 | Report Abuse

(莫斯科4日讯)俄罗斯总统普京表示,俄罗斯准备好与沙地阿拉伯和其他主要产油国一道大幅削减石油产量,以阻止油价下跌。这一表态呼应了美国总统特朗普之前的说法。

“我们做好准备在OPEC+框架内与合作伙伴达成协议,并准备与美国在这个问题是进行合作,”普京周五在与政府高级官员和石油行业高管的视频会议上说。
 “我认为有必要共同努力,以平衡市场并减少产量。”
普京说,俄罗斯认为全球石油产量每天减少约1000万桶是可能的,并准备“在伙伴关系”的基础上参与。
普京的表态是俄罗斯首次证实特朗普周四通过推文发布的消息。推文称俄罗斯愿意参与减产,该消息推动布伦特原油价格一度暴涨47%。

tkl88

8,712 posts

Posted by tkl88 > 2020-04-06 06:19 | Report Abuse

Dow Jones Futures spike up !
As at 6,15 am,
DJI futures at => 21,207.5 (+262.5) (+1.25%)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-06 09:21 | Report Abuse

Dow Jones Futures spike up !
As at 9.17am,
DJI futures at => 21,555.0 (+598.0) (+2.85 percent)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-06 10:25 | Report Abuse

Oil price wanted to turn green liao !
As at 10.20 am,
Brent => $32.91 ‪(-1.20) (-3.52%)‬

From this morning dropped -9 %
to now just dropped - 3% only !

stklearner

177 posts

Posted by stklearner > 2020-04-06 10:57 | Report Abuse

waseong steady up...

stklearner

177 posts

Posted by stklearner > 2020-04-06 10:57 | Report Abuse

tq sifu elp25 !

Posted by howtotrade > 2020-04-06 12:55 | Report Abuse

tp 0.78 in one month

tkl88

8,712 posts

Posted by tkl88 > 2020-04-06 14:08 | Report Abuse

Wow, 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%)‬

tkl88

8,712 posts

Posted by tkl88 > 2020-04-06 15:33 | Report Abuse

Wow, Superb !
Now Waseong traded at 0.665 (+0.07) (+11.8%)
Keep it up Waseong !

Huat ah ! Heng ah ! Ong ah !

tkl88

8,712 posts

Posted by tkl88 > 2020-04-06 22:38 |

Post removed.Why?

tkl88

8,712 posts

Posted by tkl88 > 2020-04-07 04:38 | Report Abuse

Wow, Fabulous,
Dow Jones closed at=> 22,679.99 (+1,627.46)(+7.73%) !

tkl88

8,712 posts

Posted by tkl88 > 2020-04-07 05:27 | Report Abuse

CNBC MARKETS
Dow soars 1,600 points as growth rate of new coronavirus cases appears to slow
PUBLISHED SUN, APR 5 2020 6:04 PM EDT
UPDATED MOMENTS AGO
Fred Imbert ,Silvia Amaro

https://www.google.com.my/amp/s/www.cnbc.com/amp/2020/04/05/stock-market-futures-open-to-close-news.html

Stocks jumped on Monday, rebounding from sharp losses in the previous week, as the number of new coronavirus cases in the U.S. appeared to slow down. 
The Dow Jones Industrial Average closed 1,627.46 points higher, or more than 7%, at 22,679.99. The S&P 500 gained 7% to close at 2,663.68 while the Nasdaq Composite surged 7.3% to 7,913.24. The major averages rallied to their session highs in the final minutes of the session, with the Dow briefly trading more than 1,700 points higher. 

Boeing gained more than 19% to lead the Dow higher. Raytheon Technologies, American Express and Visa rose more than 11% each. The S&P 500 was led higher by the utilities, consumer discretionary and tech sectors, all of which closed more than 7% higher. Retail stocks such as Nordstrom, Kohl's and Macy's also rose sharply. 

Investors were encouraged by data that shows a slowing in the number of daily U.S. coronavirus cases, although it is still early to determine a lasting trend. There were about 30,000 new cases on Thursday, 32,100 cases on Friday, 33,260 cases on Saturday, and then a slowing to just 28,200 new cases Sunday, according to the latest data from Johns Hopkins.

The Trump administration also noted on Sunday there are signs of stabilization in hospital rates, helping to lift Wall Street sentiment on Monday. Meanwhile, New York State reported 594 new coronavirus deaths on Sunday, fewer than 630 on Saturday, marking the first daily decline in coronavirus-related deaths.
"Incoming data suggests NY state might peak sooner than Cuomo's optimistic case," Tom Lee, head of research at Fundstrat, said in a note to clients. "With better visibility on the healthcare crisis in the US, particularly, on a potential to model a national peak, we believe buyers are now taking control."
Slowing death rates in Europe also offered up some hope that the U.S would be nearing its peak soon as well and that social distancing measures are working.

tkl88

8,712 posts

Posted by tkl88 > 2020-04-07 07:31 | Report Abuse

Oil price was so bullish !
As at 7.27am,
Nymex => 26.81 ‪(+0.73) (+2.80%) !‬

tkl88

8,712 posts

Posted by tkl88 > 2020-04-07 11:13 |

Post removed.Why?

tkl88

8,712 posts

Posted by tkl88 > 2020-04-07 11:15 | Report Abuse

Wow, Oil price spike up crazily !
As at 10.48am,
Nymex => $27.04 ‪(+0.96) (+3.68%)‬
Brent => $34.02 ‪(+0.97) (+2.93%)‬

tkl88

8,712 posts

Posted by tkl88 > 2020-04-07 15:33 | Report Abuse

Dow Jones continue it's bull run
As at 3.25 pm,
Dow Jones Futures at => 22,906.0 (+418.0) (+1.86%)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-08 07:20 | Report Abuse

Wow, Oil price continue to spike up !
As at 7.13am,
Nymex => 24.63 ‪(+1.00) (+4.23%)‬

tkl88

8,712 posts

Posted by tkl88 > 2020-04-08 08:47 | Report Abuse

Wow, Oil price getting hot & hottest now !
As at 8.35am,
Nymex => $24.79 ‪(+1.16) (+4.91 percent)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-08 13:37 | Report Abuse

Walaoeh, Oil price now spike up crazily !
As at 1.30pm,
Nymex => $25.19 ‪(+1.56) (+6.60%)‬
Brent => $32.88 ‪(+1.01) (+3.17%)‬

tkl88

8,712 posts

Posted by tkl88 > 2020-04-08 22:11 | Report Abuse

Oil prices gain as OPEC meeting looms
OPEC+ expected to lower collective oil output substantially to trim some oversupply in global market
Ovunc Kutlu   | 08.04.2020
https://www.aa.com.tr/en/economy/oil-prices-gain-as-opec-meeting-looms/1797054

ANKARA
Crude oil prices were up on Wednesday as the upcoming meeting between OPEC and its allies, known as OPEC+, give hope to investors of potential support to prices.
International benchmark Brent crude was trading at $32.32 per barrel at 0620 GMT for a 1.4% increase after it closed Tuesday at $31.87 a barrel.
American benchmark West Texas Intermediate (WTI) was at $24.72 a barrel at the same time for a 4.6% gain after ending the previous day at $23.63 per barrel.
The oil producing member countries of OPEC+ will hold a teleconference on Thursday to discuss the low price environment and the supply-demand balance in the global oil market.
Due to the rapid spread of coronavirus, or the COVID-19 disease, weak economic activity around the world has lowered global oil demand, increasing the glut of supply in the market.
Saudi Arabia-led OPEC and Russia-spearheaded non-OPEC failed on March 6 to lower their collective output, causing a massive plummet in prices, which fell on March 30 to their lowest level since 2002.
The OPEC+ group is estimated on Thursday to lower their collective oil production level by between 10-15 million barrels per day in order to trim some of the oversupply.

tkl88

8,712 posts

Posted by tkl88 > 2020-04-09 03:29 | Report Abuse

OMG, Oil price was damn super hot man !
As at 3.25am,
Nymex => $25.75 ‪(+2.12) (+8.97 percent)
Brent => $33.33 ‪(+1.46) (+4.58 percent)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-09 04:18 | Report Abuse

‪Wow, Fabulous!
As at 4.12am,‬
Dow Jones closed at=> 23,433.57 (+779.71) (+3.44%) !

tkl88

8,712 posts

Posted by tkl88 > 2020-04-09 04:40 | Report Abuse

Oh My goodness,
Oil price was unbelievable spike up to the sky high !
As at 4.35am,
Nymex => $26.‪09 (+2.46) (+10.41%)‬
Brent => $33.‪54 (+1.67) (+5.24%)‬

tkl88

8,712 posts

Posted by tkl88 > 2020-04-09 05:15 | Report Abuse

Oil Spikes After Algeria Says OPEC+ Cuts Could Reach 10 Million Bpd
By Julianne Geiger - Apr 08, 2020, 2:20 PM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Spikes-After-Algeria-Says-OPEC-Cuts-Could-Reach-10-Million-Bpd.amp.html

The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism about tomorrow’s virtual OPEC++ meeting.
“The meeting will undoubtably be fruitful in order to rebalance the market through measures we will take tomorrow,” Mohamed Arkab, OPEC’s President and Algeria’s Energy Minister told state news agency APS, according to Reuters.

While an intangible statement, the optimistic words spoken by the OPEC President seem to be just what the doctor ordered for the volatile markets as speculators try to make the most out of the oil-price plunge.
As a result of today’s spike, trading of the biggest oil ETF, the United States Oil Fund (USO), had been halted temporarily. Trading of the USO has since resumed. The USO is trading up 4.03% as of 3:03pm EDT.
All eyes remain on the potential deal that OPEC group may come up with tomorrow in what could be the largest oil production cut deal ever. Signatories to the deal could include, in addition to OPEC, Brazil, Norway, Canada, and all the OPEC+ countries that signed onto the previous deal. While some are hoping that the United States may join in the cuts, a formal agreement between the US and other oil producers appears unlikely.
Saudi Arabia and Russia, together responsible for producing more than 22 million barrels per day, are expected to make or break the chances of a production cut deal.

A 10 million bpd figure has been discussed by meeting attendees in the run-up to the meeting, although that figure would be insufficient to offset the loss in oil demand that the market has seen due to the coronavirus.

By Julianne Geiger for Oilprice.com

tkl88

8,712 posts

Posted by tkl88 > 2020-04-09 16:38 | Report Abuse

Walaoeh, Oil price spike up like mad already !
It's definately indicating that the Opec + meeting will come out a deal of ouput cut !
As at 4.37pm,
Nymex => $26.14 (+1.05) (+4.18%)
Brent => $33.90 (+1.07) (+3.26%)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-09 18:00 | Report Abuse

OMG, Oil price continue to spike up sky high !
As at 5.55pm,
Nymex => $26.60 (+1.51) (+6.02%)
Brent => $34.20 (+1.36) (+4.14%)

apolloang

18,163 posts

Posted by apolloang > 2020-04-09 18:02 | Report Abuse

ini panggil sky high? I tot BRENT is USD 60 and WTI USD55

Posted by Wong Kah Wei > 2020-04-09 18:05 | Report Abuse

Itu orang tipu sini tipu sana dapat gaji mah.

tkl88

8,712 posts

Posted by tkl88 > 2020-04-10 00:21 | Report Abuse

Wow, Congratulations to you all guys who is still keep tight tight & Sailang Armada at current low price !
Good news from the OPEC+ meeting which the output cut was Deal and the oil price then was spike up sharply!

As at ‬12.13am,
Nymex => $26.02 ‪(+0.93) (+3.71%)‬
Brent => $33.86 ‪(+1.02) (+3.11%)‬

tkl88

8,712 posts

Posted by tkl88 > 2020-04-10 00:52 | Report Abuse

Russia and Saudi Arabia agree deal on oil output cuts: Report
OPEC members are on Thursday set to discuss 'deep cuts' of up to 20 million barrels per day
By MEE and agencies
Published date: 9 April 2020 14:40 UTC
Last update: 18 min 21 sec ago

https://www.middleeasteye.net/news/russia-and-saudi-arabia-agree-deal-oil-output-cuts

Russia and Saudi Arabia have overcome all hurdles to cut oil production at a meeting of OPEC, ending a month-long price war.
Oil prices jumped after Reuters reported that the two countries have agreed to a "deep cut" in crude production.
OPEC and other oil producers were set to debate on Thursday oil cuts as big as 20 million barrels per day (bpd), equivalent to about 20 percent of global supplies, one OPEC source and a Russian source told Reuters.
"That is a global deal," the OPEC source said.
He did not specify if the United States would be involved - something Russia and OPEC producers have insisted on.
A worldwide lockdown to slow the spread of the coronavirus pandemic has cut fuel demand by roughly 30 percent and contributed to a crash in prices that took major benchmarks down by more than two-thirds.
Prices surge
Prices surged over 10 percent earlier on Thursday as producers appeared set to cut production sharply, but the exact details of the cuts remain unclear.
The OPEC and allies including Russia - a group known as OPEC+ - were in talks on Thursday to cut production sharply, with numbers as high as 20 million bpd bandied about, OPEC and Russian sources said.
That would be equivalent to about 20 percent of global supplies, to support prices hammered by the coronavirus crisis. However, it is unclear if a figure that lofty includes cuts made for economic decisions by private producers in the United States, Canada and elsewhere, or if OPEC assumes those countries will mandate cuts, which the US has not wanted to do.
A cut of 20 million bpd would be by far the biggest output cut ever agreed by OPEC. But Russia has insisted it will only reduce output if the United States joins the deal. US laws prevent coordination among private companies.
Analysts, meanwhile, said that even if such record cuts are agreed, they will not be enough.
"Ultimately, the size of the demand shock is simply too large for a coordinated supply cut," analysts at Goldman Sachs said on Thursday.
Following the OPEC+ meeting, energy ministers from the Group of 20 major economies are set to meet on Friday.
The last OPEC meeting in early March ended acrimoniously, with Russia and Saudi Arabia unable to come to an agreement to curb output as the virus spread, adding to the slump in prices.
A source briefed on Saudi Arabia's oil policy said it is ready to cut up to 4 million bpd of its production, but only from its record output levels of 12.3 million bpd achieved in April.
Russia has said it wants output to be cut from the January-March levels before Saudi production jumped.

tkl88

8,712 posts

Posted by tkl88 > 2020-04-10 04:18 | Report Abuse

Great, Dow Jones continue it’s bull run !
DJI closed at =>
23,719.37 (+285.80) (+1.22%) !

Keyman188

5,968 posts

Posted by Keyman188 > 2020-04-12 11:11 | Report Abuse

Mexican president's nationalist oil vision fuels standoff with Saudis

(Business News April 12, 2020 / 6:18 AM / Updated 4 hours ago)

MEXICO CITY/DUBAI (Reuters) - The biggest supply cut ever contemplated by the world’s top oil producers is hanging in the balance as a refusal by Mexico’s leftist leader to imperil his plans to rebuild state oil company Pemex has angered the Saudi prince who helped craft the deal.

For the past three days, Mexico has kept the oil industry on tenterhooks by resisting Saudi pressure to sign up to global cuts worth nearly a quarter of output for participating countries, aimed at reviving prices from their lowest level in decades.

Prices have collapsed as the new coronavirus outbreak has shuttered economies around the world and destroyed demand for fuel.

The refusal by President Andres Manuel Lopez Obrador to compromise his plan to revive Pemex by agreeing to steep cuts has shone the global spotlight on Mexico as he prioritizes his domestic agenda over the collective interests of the world’s largest oil producers.

Determined to shore up the money-losing and heavily indebted Petroleos Mexicanos, as Pemex is officially known, Lopez Obrador offered only a cut of 100,000 barrels per day (bpd), rather than the 400,000 bpd the group of global producers sought.

In a compromise hammered out with U.S. President Donald Trump, Lopez Obrador said on Friday the United States had offered to cut an additional 250,000 bpd on Mexico’s behalf, bringing them close to the target.

However, Saudi Arabia - the heavyweight of global oil diplomacy - has balked at that and dug in its heels, despite some other producers from the group of OPEC nations and their allies - known as OPEC+ - calling for the cuts to go ahead regardless.

Lopez Obrador, a staunch advocate of non-intervention in other countries’ affairs, defended his stance on Friday, harking back to a time Mexico was “strong” and “self-sufficient” in oil.

“There were stories in the papers trying to blame us, that there wasn’t a deal because of us,” the 66-year-old president told reporters, adding that Mexico could not afford the 23% production cut asked of it, but had offered 5.5%.

“Mexico is doing its bit.”

Lopez Obrador’s insistence on the importance of rescuing Pemex was crucial in the arguments he used to persuade Trump to help out, a senior Mexican official told Reuters.

Meanwhile, his representative at the OPEC+ talks, Energy Minister Rocio Nahle, upset some other countries, notably the host Saudi Arabia, whose negotiator Prince Abdulaziz bin Salman argued that making exceptions could encourage others to dodge output commitments, according to several delegates.

“If OPEC+ accepted this and everybody who doesn’t like the numbers can just withdraw or leave, then we are in for a really bad time,” said one OPEC source.

The source said Nahle, who only last month signed up to smaller planned cuts, was intransigent over the proposed reductions.

For producers, the cuts are bitter but necessary medicine for low prices. Iraq is relying on oil revenue to rebuild after years of brutal internal conflict, and yet committed to reductions of 1 million bpd.

MEXICAN WALK OUT

Some delegates accused Nahle of hanging up on the other ministers during the video conference, but she pushed back against that on Friday, saying in a Mexican radio interview she had been “respectful of the other countries” and that each government had to consider its own capacity.

“We all lose in this situation: The producing countries lose and even the consumers do too,” she said.


##https://www.reuters.com/article/us-global-oil-mexico-saudiarabia-analysi/mexican-presidents-nationalist-oil-vision-fuels-standoff-with-saudis-idUSKCN21T0W1

Will76

591 posts

Posted by Will76 > 2020-04-15 09:42 | Report Abuse

Breaking News from CNBC

Oil prices shed more than 10% on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale output provided some support.

U.S. West Texas Intermediate crude fell 10.26% to settle at $20.11 per barrel, having dropped 1.5% in the previous session.

Brent futures fell $2.14, or 6.7%, to $29.60 per barrel after settling up 0.8% on Monday.

Posted by kaichi4118 > 2020-04-15 18:43 | Report Abuse

all O&G stock gg liao.. u all better run..

Will76

591 posts

Posted by Will76 > 2020-04-20 09:59 | Report Abuse

Breaking News from Bloomberg

Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.

WTI for May delivery fell 16% to $15.37 a barrel on the New York Mercantile Exchange as of 9:16 a.m. in Singapore after plummeting 20% last week. It dropped to as low as $14.47, the weakest since March 1999.

Brent for June delivery fell 1.6% to $27.63 a barrel on the ICE Futures Europe exchange after losing 10.8% last week.

Keyman188

5,968 posts

Posted by Keyman188 > 2020-04-20 20:44 | Report Abuse

WTI oil price big dropped by 38% @ $11.24....dropped by $7 ++ ....

Never seen this level before.....tragedy...

tkl88

8,712 posts

Posted by tkl88 > 2020-04-22 10:11 | Report Abuse

Wow, Nymex price started to spike up like crazy now !
Nymex=> $12.80 (+$1.23) (+10.63%)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-22 10:48 | Report Abuse

US oil prices jump after massive rout
West Texas Intermediate for June delivery rises 18.93% to $13.76 a barrel
Published: April 22, 2020 06:12
AFP
https://gulfnews.com/business/energy/us-oil-prices-jump-after-massive-rout-1.1587521703297

Singapore: US oil prices surged Wednesday after a turbulent start to the week that saw them fall below zero for the first time due to a coronavirus-triggered demand shock.

US benchmark West Texas Intermediate for June delivery rose 18.93 per cent to $13.76 a barrel, after suffering heavy falls in New York overnight.

WTI for May delivery on Monday collapsed to an unprecedented low of minus $40.32 as traders scrambled to sell it before the contract expired Tuesday, but could find few buyers with storage capacity fast filling up.

European benchmark Brent crude for June delivery was up 0.98 percent at $19.52 a barrel, after tumbling to an 18-year low the previous day.

Will76

591 posts

Posted by Will76 > 2020-04-22 14:54 | Report Abuse

Breaking News from CNBC

In the afternoon of Asian trading hours, international benchmark Brent crude futures dropped 14% to $16.55 per barrel.

Meanwhile, the June contract for West Texas Intermediate shed all of its earlier gains as it fell about 6% to $10.82 per barrel.

tkl88

8,712 posts

Posted by tkl88 > 2020-04-22 22:11 | Report Abuse

Wow, oil price continue to spike up !
As at 10.00pm,
Nymex => $15.65 (+4.08) (+35.26%)
Brent => $21.97 (+2.64) (+13.66%)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-23 06:20 | Report Abuse

Wow, Fantastic ! Dow Jones spike up to
closed at=> 23,475.82 (+456.94) (+1.99%) !

tkl88

8,712 posts

Posted by tkl88 > 2020-04-23 07:06 | Report Abuse

Wow, Fantastic,
Oil price started it’s bull run again !

Nymex closed at=> $13.78 (rose +19%)
Brent closed at=> $20.37 (rose +5%)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-23 07:46 | Report Abuse

International oil prices rebound following Trump warning

April 22, 2020 8:09 pm by Myles McCormick and Joe Rennison in London, Hudson Lockett in Hong Kong and Matthew Rocco in New York

Brent bounces back from two-decade low after US president takes aim at Iranian vessels

Oil prices rebounded on Wednesday after Donald Trump stoked Middle East tensions, saying that he had ordered US warships to “shoot down and destroy” Iranian vessels if they posed a threat.
The US president’s intervention sent Brent crude back above $20 a barrel after the international benchmark had tumbled to its lowest level since 1999 on concerns over the collapse in global oil demand.
The declaration from Mr Trump also helped buoy the high-yield bond market, which is heavily exposed to the fate of energy companies. BlackRock’s iShare high-yield bond exchange traded fund, known by its ticker HYG, rose 1 per cent, having dipped 1.8 per cent on Tuesday.

“I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea,” Mr Trump wrote in a tweet.
The prospect of renewed tensions in the Middle East gave crude a lift during a week where prices have struggled to contend with an evaporation in demand triggered by the coronavirus pandemic.

Brent rose as high as $22.45 a barrel and settled at $20.37, up more than 5 per cent on the day. The energy sector helped lead a rally on Wall Street that sent the benchmark S&P 500 up 2.3 per cent following two days of falls. The tech-heavy Nasdaq Composite closed up 2.8 per cent.
West Texas Intermediate, the US marker, rose 19 per cent to $13.78 a barrel. It almost halved during the previous session and earlier in the week fell into negative territory for the first time as producers were forced to pay buyers to take oil off their hands ahead of the expiry of futures contracts.

Brent crude remains down about 27 per cent so far this week. Oil production levels have remained robust even as the virus destroys demand, creating a supply glut. An unprecedented cut of almost 10 per cent of global supply by Opec and its allies will take effect next month, but traders worry it is not enough to offset the collapse in consumption.
The head of the International Energy Agency on Tuesday called for the output reductions to be expedited and deepened. Opec members met by phone overnight, but there was no sign they would change their plans.

tkl88

8,712 posts

Posted by tkl88 > 2020-04-23 13:38 | Report Abuse

Wow, Marvelous !
Oil price continue to spike up !

As at 1.27pm,
Nymex at=> $15.77 (+1.99) (+14.4 percent)
Brent at=> $22.87 (+2.50) (+12.3 percent)

tkl88

8,712 posts

Posted by tkl88 > 2020-04-23 23:09 | Report Abuse

Wow, Awesome!
Oil price continue to spike up to sky high !
Nymex now at=> $17.83 (+4.05) (+29.39%) !

Posted by EatCoconutCanWin > 2020-04-28 11:12 | Report Abuse

i heard that waseong going to PN17 coming quarter. really?

tkl88

8,712 posts

Posted by tkl88 > 2020-05-07 19:16 | Report Abuse

Wow, Fantastic !
Oil price continue to spike up !

As at 7.10pm,
Nymex at=> $26.01 (+2.02) (+8.42 percent)
Brent at => $31.37 (+1.65) (+5.55 percent)

Huat ah ! Heng ah ! Ong ah !

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