Posted by Daily8 > 2020-03-28 21:17 | Report Abuse

Brent oil have another unfortunate fall again yesterday. This fall wiped out the 3 days gain in the market.

Brent oil need to find a base price as the bottom doesn't seem to have found bottom.

I believed many stucked around 38 c abv.

Posted by GoodTrade > 2020-03-28 23:47 | Report Abuse

Now everyone is talking about world in surplus of 20 mil barrels of crude oil per day, demand is 20% less than supply ... be cautious ...

Posted by GoodTrade > 2020-03-29 00:00 | Report Abuse

I would not be surprised if Brent oil price go below $20 in short period of time ...

Posted by JJchan > 2020-03-29 14:10 | Report Abuse

From what i gather from my Singapore Diesel agent, Shale Co. in USA is asking members to
prepare Info. on their production cost. Thru. their Oil Association. they are going to Hit Saudi +
Russian with Anti-Dumping Law if Saudi really Ramp-up production on April and Dump Oil to USA-------Really don't care what Trump will Do ( who has vested interest in every thing)....How can Saudi
win this Court case when Saudi openly declared what they intend to Do....

Posted by JJchan > 2020-03-29 14:22 | Report Abuse

If Russian and Saudi Cannot Sell Oil into USA, How can they Kill All Shale Co.?? Once CoronaVirus is blown-over Oil consumption in USA will Rise again ( 3---6 months )

Posted by JJchan > 2020-03-29 14:31 | Report Abuse

We should look at Solid Data i.e. Wuhan Lock-down Period----60Days. The screaming now-aday
is mostly on Dead-Rate but according to statistic, Covid-19 just kills 18--20% more people on a
normal Flu-season (in USA)----The major difference is the Speed of infection ( just overwhelmed ICU units )

Posted by Mabel > 2020-03-29 19:12 | Report Abuse

Meow

Posted by rizal_de > 2020-03-29 22:39 | Report Abuse

tomorrow 0.05?

Posted by Will76 > 2020-03-29 22:50 | Report Abuse

News from CNBC

Oil prices dropped nearly 5% on Friday and were on track for a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.

Brent crude was trading 5.1% lower at $24.99 per barrel.

U.S. crude fell $1.09, or 4.8%, to settle at $21.51 per barrel.

Stocks fell sharply on Friday, giving back some of the strong gains experienced in the previous three days to cap off another volatile week on Wall Street.

The Dow Jones Industrial Average dropped 915.39 points, or 4.1%, to 21,636.78. The S&P 500 slid 3.4% to 2,541.47 while the Nasdaq Composite closed 3.7% lower at 7,502.38.

Posted by mf > 2020-03-29 23:48 | Report Abuse

Dukacita dimaklumkan sehingga kini, terdapat satu (1) lagi pertambahan kes kematian berkaitan COVID-19 yang telah dilaporkan kepada CPRC Kebangsaan. Pelaporan terbaharu ini menjadikan jumlah kumulatif kes kematian COVID-19 di Malaysia sebanyak 35 orang setakat ini.

Kes kematian ke-35 (kes ke-1952) merupakan seorang perempuan warganegara Malaysia berusia 57 tahun. Beliau mempunyai sejarah perjalanan ke Indonesia.

Beliau telah mula bergejala 5 hari sebelum dimasukkan ke Hospital Putrajaya pada 17 Mac 2020 dan kemudiannya ke Hospital Kuala Lumpur dan Hospital Sungai Buloh. Hasil ujian pengesahan COVID-19 telah didapati positif pada 18 Mac 2020. Kesihatan beliau merosot hari demi hari, dan disahkan meninggal dunia pada 29 Mac 2020 jam 4.00 petang.

KKM mengucapkan takziah kepada seluruh ahli keluarga beliau.

‎إِنَّا لِلّهِ وَإِنَّـا إِلَيْهِ رَاجِعون

Posted by Kopimilo > 2020-03-30 08:54 | Report Abuse

Oil news

https://oilprice.com/

Posted by freddiehero > 2020-03-30 08:55 | Report Abuse

no interest 0% for the 1st year, sure business die kaw kaw!

Posted by rizal_de > 2020-03-30 14:40 | Report Abuse

interest still accrued..cuma no compounded interest.

Posted by GoodTrade > 2020-03-30 16:06 | Report Abuse

Brent crude oil price is below $23 now ...

Posted by rizal_de > 2020-03-30 18:41 | Report Abuse

saudi arabia and russia will react to this and hopefully price will go up again..

Posted by GoodTrade > 2020-03-30 23:43 | Report Abuse

Brent oil below $22 ...

Posted by johnbrooks > 2020-03-31 00:07 | Report Abuse

With oil price at around $20, i think we can safely assume FY20 would not be a good year for Velesto. At best it will be like FY16 when they recorded a core net loss of RM400mil (excluding impairment).

Posted by Daily8 > 2020-03-31 00:37 | Report Abuse

Miminal selling of oil as quarantine and lockdown diminishes transportation. Therefore, no matter how low the crude oil price fall, it’s just technical only because oil isn’t used.

Posted by tkl88 > 2020-03-31 01:49 | Report Abuse

As at 1.47am,
Nymex=> $19.89 ‪(-1.62) (-7.53%)‬
‪Brent =>‬ $26.04 ‪(-1.91) (-6.83%)‬

Posted by CKLCAT > 2020-03-31 01:56 | Report Abuse

Dear Good Trade, please check and confirm the information before you post your comment.

Posted by tkl88 > 2020-03-31 02:08 | Report Abuse

As at 2.05am,
Nymex => $19.57 ‪(-1.94) (-9.02 percent)
Brent => $25.75 ‪(-2.20) (-7.87 percent)

Posted by tkl88 > 2020-03-31 03:15 | Report Abuse

Oil Prices Slide As Saudi Arabia Confirms Another Export Boost
By Tsvetana Paraskova - Mar 30, 2020, 9:00 AM CDT

https://www.google.com.my/amp/s/oilprice.com/Energy/Crude-Oil/Oil-Prices-Slide-As-Saudi-Arabia-Confirms-Another-Export-Boost.amp.html

Saudi Arabia is not backing down from the oil price war for market share, pledging another increase in its crude oil exports starting in May, despite a growing global glut amid crashing demand.
“[T]he Kingdom intends to increase its crude oil exports, starting from May, by about 600 thousand barrels per day, bringing the total of Saudi petroleum exports to 10.6 million barrels per day,” an official at the Saudi Arabian Energy Ministry said on Monday, as carried by the official Saudi Press Agency.

Posted by rizal_de > 2020-03-31 03:59 | Report Abuse

DJI is still going up despite the plummeting oil price

Posted by RedEagle > 2020-03-31 07:27 | Report Abuse

Crash.. 0.05?

Posted by johnbrooks > 2020-03-31 07:31 | Report Abuse

Rizal, i think market is still in euphoria state after the massive stimulus announcement. Yesterday even energy industries in US was up by 1% even when oil price plummet. I think reality will sinknin fast especially those energy companies with high gearing. No way you can make enough money to service ur debt at this oil price level..

Posted by rizal_de > 2020-03-31 07:53 | Report Abuse

Saudi Arabia will not be able to withstand these low oil prices indefinitely..they will have to give up.

Posted by GoodTrade > 2020-03-31 08:49 | Report Abuse

@cklcat ... I was referring to Brent (ICE) futures contract price for May2020 ...

Posted by JJchan > 2020-03-31 09:22 | Report Abuse

https://finance.yahoo.com/news/crude-rises-u-russia-agree-010001397.html

The end of price war between Saudi / Russian is Near.

Posted by JJchan > 2020-03-31 09:24 | Report Abuse

Any agreement will push Velesto to 20--25cents range

Posted by GoodTrade > 2020-03-31 12:26 | Report Abuse

I wonder how Trump, Saudi n Russia negotiate n reach an agreement based on current 20 million crude oil surplus ... We might see some good agreement when crude oil demand improve in a few months later ... Unlikely to reach any agreement now ...

Posted by rizal_de > 2020-03-31 17:11 | Report Abuse

hopefully there will be good news from the russia us oil talk.

Posted by GoodTrade > 2020-04-01 00:20 | Report Abuse

Saudi n Russia oil tsunami is coming ...

Posted by tkl88 > 2020-04-01 04:40 | Report Abuse

Dow Jones closed at=> 21,917.16 (-410.32) (-1.84%)

Posted by JoshuaMS7 > 2020-04-01 07:11 | Report Abuse

Run run run?? Another big crash coming??

Posted by Lucky88 > 2020-04-01 09:33 | Report Abuse

Slowly moving UP......Buy..Buy..Buy..

Posted by Lucky88 > 2020-04-01 09:36 | Report Abuse

Huat ah..Huat ah..Huat ah..

Posted by Lucky88 > 2020-04-01 09:36 | Report Abuse

UP..UP..UP..

Posted by Lucky88 > 2020-04-01 09:36 | Report Abuse

Buy..Buy..Buy...UP..UP..UP..

Posted by rizal_de > 2020-04-01 09:53 | Report Abuse

why up? What happen?

Posted by Will76 > 2020-04-01 10:08 | Report Abuse

Breaking News from Bloomberg

Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come.

Daily consumption will plummet by 15 million to 22 million barrels in April from a year earlier, according to estimates from some of the world’s most influential energy analysts. The crash has already led to refiners slashing processing, drillers halting output and storage tanks swelling across the world.

The demand slump is being exacerbated by former OPEC+ allies Saudi Arabia and Russia pumping as much crude as they can in a battle for market share, heaping additional pressure on shipping, tanks and pipelines. Goldman sees around 20 million barrels a day flowing into storage in April, while IHS Markit expects the world will run out of space to store oil by the middle of the year.

"Oil price likely to be moving towards USD15/barrel based on the above scenario"

Posted by Will76 > 2020-04-01 10:16 | Report Abuse

"Few in the industry will be spared. April is also set to be the worst ever month for global jet fuel demand, while industry consultant FGE forecasts American gasoline consumption will plunge by 50% from a year earlier. Energy Aspects Ltd. predicts global benchmark Brent crude may drop to near $10 a barrel, a level not seen in more than two decades."

Posted by Lucky88 > 2020-04-01 11:15 | Report Abuse

Now is the time to keep....will UP soon......from 0.125 to 0.300......How much profit?????? Sure HUAT!!!!

Posted by rizal_de > 2020-04-01 11:43 | Report Abuse

sold already

Posted by Lucky88 > 2020-04-01 12:08 | Report Abuse

Buy now.......will UP soon..........

Posted by JoshuaMS7 > 2020-04-01 12:15 | Report Abuse

US future crashing -400 pts!!

Posted by Lucky88 > 2020-04-01 12:21 | Report Abuse

Huat ah........

Posted by Twowah123 > 2020-04-01 12:35 | Report Abuse

can somebody tell me what on earth happened....y velesto go up suddenlly. Please tell me y??
today thinking price is sinking and wanna wait and grab some cheap bargain price but turn out price not going down but up up

Posted by Lucky88 > 2020-04-01 12:44 | Report Abuse

Buy now....will UP soon.....

Posted by JoshuaMS7 > 2020-04-01 12:47 | Report Abuse

No more 0.090!! Lowest 0.090!!

Posted by JJchan > 2020-04-01 13:01 | Report Abuse

Velesto is Not selling Oil. Just sub-contract Petronas Job. Oil Up or Down doesn't affect Velesto
profit margin in 2020. Only in 2021 if Oil continue at $30, Petronas might has less Job for Velesto.
However I don't think CoronaVirus problem will Not last that long, bcos the biggest Pharma Co, in USA Johnson & Johnson is testing a Vaccine in September ( when J&J say they got a vaccine, they got a creditable Vaccine---not like others(just shout to get attention )