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.

Posted by lancefire > 2020-04-20 16:29 | Report Abuse

Lol change of stance. It sounds like @Joshuams7 has already bought in

Posted by low123 > 2020-04-20 20:03 | Report Abuse

Finally...EPF turn net buyer!!

Posted by RedEagle > 2020-04-20 22:33 | Report Abuse

FirstOut..9-10am maday maday maday

Posted by JoshuaMS7 > 2020-04-21 04:59 | Report Abuse

yaya first out later 9am!! Sell sell sell!! Crude turn negative for the first time!

Posted by JoshuaMS7 > 2020-04-21 05:00 | Report Abuse

If current oil price keep for 1 - 6 months will velesto bankruptcy? Any advise?

Posted by lancefire > 2020-04-21 06:19 | Report Abuse

For someone who shouts oil price every day, you really should take some time to read up first

https://seekingalpha.com/article/4338551-why-wti-crude-is-crashing-much-today?source=marketwatch&mod=mw_quote_news

TLDR: wti price fell because the may contract only left 1 more day. People trying to sell off contract that's valid 1 more day. That's why Brent oil etc didn't fall or move like wti.

Anyway you can sell whatever you have if you want. Advise don't buy in something you don't understand well.

Posted by offshore > 2020-04-21 09:17 | Report Abuse

Next thing to check with the management, whether the existing long term contracts will be cancelled or made idle at zero rate. Please ask in the next AGM. Although this company has restructured its debt, it still has debt nonetheless. Maybe another round of restructuring perhaps?

Posted by BlackWhite > 2020-04-21 12:11 | Report Abuse

Now 25per barrel later close at 23, end of the week may b pitiful 15 or so, don't say vel bankrupt, country also big B

Posted by ongth60 > 2020-04-21 13:37 | Report Abuse

if country bankrupt. we as a normal citizen also bankrupt, ringgit will be devalue, epf will be gone, inflation will be high, unemployment will be. high. look at Greece.

Posted by ongth60 > 2020-04-21 13:39 | Report Abuse

so you still wish country to be bankrupt?

Posted by DChosen2 > 2020-04-21 15:24 | Report Abuse

someone pumping real hard..

Posted by lancefire > 2020-04-21 16:58 | Report Abuse

@ongth60 good point!

Posted by Cojack31 > 2020-04-21 17:26 | Report Abuse

Tommorow price will be up.

Posted by Goodprofit > 2020-04-21 17:28 | Report Abuse

oil drop again

Posted by Cojack31 > 2020-04-21 18:05 | Report Abuse

Time to buy. Cheapsale.

Posted by BlackWhite > 2020-04-21 18:27 | Report Abuse

No yet lah wait longer for big smash discount

Posted by BlackWhite > 2020-04-21 18:27 | Report Abuse

Grand slam price

Posted by Legend > 2020-04-21 18:29 | Report Abuse

0.10 baru syok2 buy.

Posted by Mabel > 2020-04-21 19:53 | Report Abuse

Relax..

It's only 1 cent drops..

Velesto should be affected with the current Oil Volatility..

Posted by Michael Kwok > 2020-04-21 19:58 | Report Abuse

My dear Mabel;
please come to Lambo.Net cash 4 cents.Cash 85 millions.Consider buying it.

Posted by truly > 2020-04-21 20:10 | Report Abuse

run while you can.... going to delisted soon..... tp 0.005

Posted by JoshuaMS7 > 2020-04-21 20:21 | Report Abuse

Crazy crash for oil price!! WTI 15++, Brent 20++!! gg for all oil related companies!!

Posted by Cojack31 > 2020-04-21 20:37 | Report Abuse

All shorterm. Dont panic.

Posted by tansoonyg > 2020-04-21 20:46 | Report Abuse

Panic sell will came for the next two day until Crude Oil WTI close above USD20.

Posted by JoshuaMS7 > 2020-04-21 21:22 | Report Abuse

Crazy and crazy for the oil price, breaking 13 and 19 usd now!! How to survive?? Will lot oil related companies bankruptcy if the oil price sustain few months or 1 qtr!!

Posted by buah_kurma > 2020-04-21 21:31 | Report Abuse

Apa macam besok

Posted by digi_three > 2020-04-21 21:50 | Report Abuse

Waiting for 0.10 to average down lorr ..

Posted by mf > 2020-04-21 22:18 | Report Abuse

Oil continues unprecedented sell-off: June futures drop 24%, but May contract turns positive

Posted by ochai > 2020-04-21 22:23 | Report Abuse

nee noo nee nooo...

Posted by RedEagle > 2020-04-21 23:16 | Report Abuse

Check In Sg Buloh

Posted by JoshuaMS7 > 2020-04-21 23:30 | Report Abuse

If dji crash -1000 tonight plus oil price plunge -30%, tomoro sure gg lo..

Posted by JoshuaMS7 > 2020-04-21 23:30 | Report Abuse

Lowest 0.095!!

Posted by apolloang > 2020-04-21 23:33 | Report Abuse

many oil companies gonna in PN 17 soon

Posted by JoshuaMS7 > 2020-04-21 23:59 | Report Abuse

yaya included velesto!! their cost also no so cheap (wti 12 vs brent 18), how to survive? Anyone can tell me how they can survive to pay all their expenses?? No gain is a problem but now even loss money and getting serious for lower and lower oil price!! Superb crazy!! Cheaper than a bottle of mineral water now!

Posted by Ron90 > 2020-04-22 00:08 | Report Abuse

when oil in trouble, the first thing to go is RIG COUNT drop...follow by service and maintenance required for each rig/platform.

WTI already back to positive territory, tuesday is the last day for March delivery. June still at around $20. Brent is having the same disease now for few days..sama pattern, but will recover coz OPEC sure immediately cut production THIs WEEK. There is a very big difference between having OPEC cartel and non-opec producer, esp in times of uncertainty like this.. OPEC will always prevail.

Posted by mf > 2020-04-22 04:12 | Report Abuse

Dow falls 600 points after another oil plunge, bringing its 2-day drop to over 1,200 points

Posted by Cojack31 > 2020-04-22 06:04 | Report Abuse

Someone sell. Someone sapu.. dont panic guys

Posted by RedEagle > 2020-04-22 06:39 | Report Abuse

Investing.com – Wall Street fell on Tuesday, as a plunge in oil prices weighed on investor sentiment, even as Congress readies a $500 billion coronavirus aid package to further support the economy.

The Dow fell 2.67%, or 631 points, theS&P 500 slipped 3,07% and the Nasdaq Composite fell 3.48%.

Worries over a storage squeeze amid a collapsed in fuel demand sent oil prices sharply lower for the second day in a row.

"The EIA reported in October that storage capacity was around 426.5 (million barrels) and was 55% full. Using inventory since then, we calculate that capacity utilization has risen to over 81%," ANZ Research said in a note.

The plunge in energy prices was exacerbated after Railroad Commission of Texas, which oversees oil and gas companies, delayed a vote on mandated production cuts demanded by midsized shale oil drillers.

Despite the plunge in oil prices of more than 40%, energy stocks outperformed the broader market, ending the day down 1.4%.

The selloff in oil stoked worries about loan defaults, pressuring regional banks, which typically carry a larger energy-lending portfolio than that of Wall Street banks.

The Settle KBW Nasdaq Regional Banking Index fell more than 2.5%.

Tech stocks led the day of selling on Wall Street with FANG and chip stocks bearing the brunt.
Facebook (NASDAQ:FB) fell 4.2%, Amazon.com (NASDAQ:AMZN) fell 1.6% and Apple (NASDAQ:AAPL) was down 3.08%, while Netflix (NASDAQ:NFLX) ended down about 0.77%.

Also weighing on tech, IBM (NYSE:IBM) fell 3% after the company pulled guidance and reported quarterly revenue that missed expectations due to the impact from the coronavirus pandemic.
On the economic data front, the decline in existing home sales in March was not as bad as many had feared, but the data was largely shrugged off as it did not reflect the full extent of the lockdown measures, which began in mid-March.

But the lockdown measures in some states are nearing an end, with Georgia and South Carolina set to lift lockdown restrictions this week.

News that Congress reached a tentative agreement Tuesday with President Donald Trump on a nearly $500 billion coronavirus relief bill that would top up the $349 billion small business rescue program failed to lift sentiment.

Posted by ashmira > 2020-04-22 08:26 | Report Abuse

Peoples panic sell, i'm panic buying. Which price is the best price. 0.100-0.12 Hope can reach that. or even lower.

Posted by Cojack31 > 2020-04-22 10:03 | Report Abuse

True. Me too.

Posted by tkl88 > 2020-04-22 10:08 | Report Abuse

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

Posted by tkl88 > 2020-04-22 10:42 | 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.

Posted by Yeo Michael > 2020-04-22 10:57 | Report Abuse

Velesto, go down a little more can consider to buy back. Opec + will definitely do some more oil output cut coming soon. If go some more down the country will be in recession.

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

All in

Posted by JoshuaMS7 > 2020-04-22 11:55 | Report Abuse

Guys oil price free fall to 11 wti and 16 brent!! i think their cost should be 10 usd only!! haha gogogo!!

Posted by JoshuaMS7 > 2020-04-22 11:58 | Report Abuse

will this company bankruptcy if oil price keeps sustain for 3 months / 1 qtr and lot contracts cancelled since losing money if do more?

Posted by DickyMe > 2020-04-22 12:03 | Report Abuse

"
DickyMe2 Brent crude may break the 2016 low of US$27 and find support around US$23. If that fails expect under US$17.
12/03/2020 11:07 PM"
========================================

It is on the way to US$17....kikikikiki

Posted by Pcmont123 > 2020-04-22 12:07 | Report Abuse

Omg Brent oil what price now.......

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.