For the last quarter, ICON has recorded a net profit of RM7.4 millions. The company only need another profit in next quarter to share price jump above 10 sen. For long investment, it is a good buy at current price.
Investing.com – Oil prices were up in Asia on Friday as Russia and Saudi Arabia hinted at further production cuts.
The two producers said overnight that they were open to further output cuts on top of the almost 10-million-barrel cut agreed upon by OPEC+ earlier in April. They will “continue to closely monitor the oil market and are prepared to take further measures jointly with OPEC+ and other producers if these are deemed necessary,” Russian Energy Minister Alexander Novak and his Saudi counterpart Prince Abdulaziz bin Salman said in a joint statement.
NEW super bull now like 1993 - 97 >> just Wallapppp sure ONE $$ Volume today 6 Billions ++ even more hot than 1993 / 97 thanks to this BUG @ Covid 19 for BRINGING ONG / luck to the stock market
Crude is crashing ,I will start taking profit on Monday because not expected crude will drop till this level. My cost on icon is 46.8 sent and Alam is 5.87sen .,
Hello - No sweat laaa....must under stand the " MECHANIC " of future trading like Palm Oil , Oil & what not....if can't get out from the May Contract - you will get the actual oil delivered ..if oil palm , lorries of oil palm will be delivered in front of your house..that's all...see the Oil JUNE Contract still OK , Brent oil still all right...
The sell off can be attributed in part to market mechanics. The May futures contract for West Texas Intermediate, the US benchmark, is about to expire.
Most investors are already focusing on the June contract, thinning out trading volume and feeding volatility, UBS analyst Giovanni Staunovo said. The June futures contract for WTI is trading around $22 per barrel >> Brent crude futures, the global benchmark @ $25.81 per barrel.
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.
" 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" ========================================
Wow, Fantastic ! Now ICON already turn green and traded at 0.065 (+0.005) (8.3%) ! Like that today ICON definitely can closed at 0.07 (+0.01) (+16.7%) already ! Keep it up ICON !
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.
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Posted by BlackWhite > 2020-04-15 09:20 | Report Abuse
0.04sen that is