Guarded optimism on oil, crude at 7-month high

Crude trades at seven-month high: Brent crude

PETALING JAYA: Crude oil prices inched closer to the US$50 per barrel mark, the highest it has traded in seven months, a telling sign for investors that the worst is most likely over for the commodity – for now.

However, top government officials and executives in the oil and gas (O&G) industry are guarded in their optimism, stating that it is still too early to make any revisions to the Budget 2016 projections.