As at 12.25pm, Joe Biden already have 209 votes leading Donald Trump's 118 votes by 91 votes, Joe Biden just need only another 61 votes then will won the US election !
Biden win. Contrary to many who expect oil downturn- When Shales activity suspended, or prohibited due to huge environmental damage by Biden, it goes up instead due to US supply shock in short term..... Biden's strong proponent of green energy. may take some time before it can gain further market to replace shale oil long term. so, i sailang oil counter la
President Biden is favours to world trade ! World economy will start booming from today onwards ! And asian stock markets including KLSE will be in bull market from today onwards ! As at 2.10pm, Hang Seng : 26,095.46 (+382.49) (+1.49 %) Shanghai composite: 3,380.38 (+68.23) (+2.06 %) Nikkei : 24,912.31 (+587.08) (+1.41 %) Taiwan Weighted : 13,127.47 (+153.94) (+1.19 %) Korea Kopsi : 2,449.96 (+33.46) (+1.38 %) Singapore STI : 2,611.34 (+32.66) (+1.27 %)
(Bloomberg) -- Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.
Crude futures spiked following news the vaccine, being developed by Pfizer and BioNTech SE, prevented more than 90% of infections in a study of tens of thousands of volunteers.
Markets globally surged. WTI climbed more than 10% in New York, while global equities soared. It led to broader strength in the oil futures curve, with timespreads also moving sharply higher.
A vaccine “would be the most meaningful type of mitigator to the situation,” Saudi Energy Minister Prince Abdulaziz Bin Salman said prior to the Pfizer announcement at a conference on Monday. “We’re still hopeful that vaccine is found and that vaccine or vaccines spread and hopefully mobility would be regained.”
Since Covid first emerged, oil markets have been steadily recovering from the biggest crash in consumption in a generation. Transport use in Asia has rebounded strongly, but the renewed resurgence of the virus in Europe has continued to weigh on demand in the region. The emergence of a vaccine would not only help regions suffering form renewed lockdowns, but could also help spur the return of aviation demand -- the hardest hit corner of the market.
The relief in the market was seen in the profits from turning crude into transport fuels. Gasoline cracks in the U.S. reached their highest since mid-October, while those in Europe also gained. Jet fuel was also gaining relative to the value of other transport fuels in Europe, Bloomberg fair value data show.
Prices had earlier rallied as Joe Biden declared victory in the U.S. presidential election and began preparations to navigate America’s pandemic-hit economy out of crisis, with potential shifts coming on a range of policies from fiscal stimulus to Iranian sanctions. At the same time, Saudi Arabia said that OPEC+ could extend oil cuts through 2022 as the group seeks to re-balance the glutted market.
KUALA LUMPUR: Malaysia said on Wednesday it has signed an agreement with China to cooperate on the development of a safe and efficacious vaccine, as part of efforts to combat the Covid-19 pandemic.
Under the agreement, in force for an initial period of five years, the Southeast Asian nation will be given priority access to Covid-19 vaccines developed by China. Both will share knowledge and expertise and facilitate scientific and technological capabilities to advance vaccine development in their countries, Malaysia said in a joint ministerial statement. Science, Technology and Innovation Minister Khairy Jamaluddin signed the agreement with his Chinese counterpart Wang Zhigang in a virtual ceremony.
Cooperation between Malaysia and China under the agreement would be supervised by a committee chaired by the foreign affairs ministers of both countries that was formed in October to address post-pandemic challenges.
"Both countries will also support the participation of their public and private sectors including universities, institutions, societies and organisations in joint collaborative projects," the Malaysian ministries said.
Global crude prices could soar to $80/bl this year because of severe inventory shortages and rising demand, but US shale producers are unlikely to ramp up production, a panel of experts told the Argus Live Crude Summit today........
QR is in the corner. Still in the red? Lets have yr marketing dept work hard to promote yr services. Brainstorm to max yr revenue while minimize yr costs. U can duit.
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....
tkl88
8,712 posts
Posted by tkl88 > 2020-11-03 18:03 | Report Abuse
Wow, oil price continue to spike up !
As at 5.42pm,
Nymex at => $38.16 (+1.35) (+3.67 percent)
Brent at => $40.20 (+1.23) (+3.16 percent)
Huat ah ! Heng ah ! Ong ah !