Please la dow jones is not related to up or down of share for oil and gas counters..only brent will affect it...dun simply miss guide ppls la..go c brent crude oil price then u will know how far it drop..
It just goreng to trap more investors..the best method to get investors fall into the trap is fry higher lo......then investors thought that it start to fly actually is trick la..if not how they get money..bodoh la ini..
NEW YORK (Reuters) - Oil prices rose more than 2% on Thursday, turning positive as OPEC and its allies said the producer group would crack down on countries that failed to comply with output cuts and planned to hold an extraordinary meeting in October if oil markets weaken further. After falling early in the session amid bearish jobs numbers and a ramp up in Gulf of Mexico oil output following Hurricane Sally, crude benchmarks reversed course to gain on the day, bolstered by comments from OPEC. "Although no amendments to the current supply-cut deal have been proposed by OPEC+ today, the producers group gave the impression that it does not sweep troubles under the carpet," said Rystad Energy's Head of Oil Markets, Bjornar Tonhaugen. Brent oil futures extended gains to settle up $1.08 or 2.56% at $43.30 a barrel. U.S. crude futures settled higher by 81 cents, or 2.02% at $40.97 a barrel. Both contracts rose more than 4% on Wednesday. The panel of major producers, including Saudi Arabia and Russia, did not recommend any changes to their current output reduction target of 7.7 million barrels per day (bpd), or around 8% of global demand, according to a draft press release and an internal report. The panel pressed laggards such as Iraq, Nigeria and the United Arab Emirates to cut more barrels to compensate for overproduction in May-July, while extending the compensation period from September to the end of December, according to three OPEC+ sources. "They were coming down hard on the UAE," said Phil Flynn, senior analyst at Price Futures Group in New York. The expectation that output could fall as the UAE and others trim production bolstered prices, he said. The OPEC news overshadowed the restart of U.S. offshore production after Hurricane Sally passed through the Gulf of Mexico and bearish U.S. economic news. U.S. energy companies were starting to return crews to offshore oil platforms in the Gulf of Mexico after Sally halted operations for five days, shutting down nearly 500,000 bpd of output. Prices were also under pressure from the slow economic recovery from the pandemic. Global coronavirus cases are expected to pass 30 million on Thursday, according to a Reuters tally. The U.S. Labor Department's report showed the number of Americans filing new claims for unemployment benefits fell last week, but remained at extremely high levels as the labor market recovery shifts into low gear and consumer spending cools. Even OPEC+ cautioned that the pandemic could continue to curb demand. An OPEC+ technical panel warned that a rise in coronavirus cases in some countries may curb oil demand despite signs of economic recovery and initial indications of a decline in oil stocks, according to an internal document seen by Reuters.
*Icon Offshore Bhd’s* wholly-owned Bruneian unit Icon Bahtera (B) Sdn Bhd has secured a chartering contract from Zell Transportation Sdn Bhd (ZT) to supply offshore support vessels and chartering services, including the charter of Icon Valiant and Icon Aliza. While no contract value was provided, Icon Offshore said the contract for each vessel is for six years, with two extension options of one year each. (Edge Markets)
Good news, perikatan nasional has won the Sabah election by 38 seats out of 73 seats ! So that our politic will be stable for another 3 years till 2023 election ! It’s good for our economy, like that next week KLSE will be spike up like mad already !
PETALING JAYA: Budget 2021, which will be tabled in November, will be expansionary though narrower than Budget 2020, with economists projecting a budget deficit of 4% to 6% next year.
The government, they said, would need to revitalise the economy with appropriate measures due to the uncertainties arising from the Covid-19 and the weak global economy, which has caused many nations to fall into recession.
The World Bank expects Malaysia’s fiscal deficit to gross domestic product (GDP) to widen to 7% this year, underpinned by increased expenditure and downward pressure on revenue. The government, however, expects the fiscal deficit to be at 5.8% to 6% this year.
Economists expect the government to look into some core areas to ensure Malaysia is on the right track to achieve economic sustainability post-pandemic.
Socio-Economic Research Centre executive director Lee Heng Guie told StarBiz that the federal government is torn between managing a tight fiscal space and keeping the country’s sovereign rating intact.
"In our view, the government should go for another year of fiscal deficit targeted at public spending and programmes as well as the provision of tax incentives and allowances to boost private investment, creating jobs and income.
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tkl88
8,712 posts
Posted by tkl88 > 2020-09-02 07:59 | Report Abuse
Wow, Amazing !
Dow Jones closed at=>
28,645.66 (+215.61) (+0.76 %) !