Oil spike bodes well for Malaysian economy


Recent rise in crude prices strengthening the ringgit

PETALING JAYA: The continued spike in crude oil prices has strengthened the ringgit further against the US dollar.

Yesterday, the international benchmark Brent crude oil soared to US$63.52 per barrel a day, the highest in 13 months, as fears of heightened tensions in the Middle East, as well as hopes that a US stimulus and an easing of lockdowns will boost fuel demand this year.

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oil price , ringgit , Malaysian , economy , inflation , Yeah Kim Leng ,

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