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NEW YORK: Oil prices eased on Friday on renewed concern over the U.S.-China trade war, but futures still posted weekly gains, with Brent marking its biggest weekly increase since January, after an attack on Saudi Arabia's energy industry last weekend.
Renewable energy seems to be the buzzword these days. Everybody have a view on renewable energy, whether it is solar, bio-diesel or hydro. They all seem to think that it is good that Malaysia is talking about renewable energy in a big way.
The drone attacks on major oil installations in Saudi Arabia early this week caused panic in the global oil markets. But the price surge that followed didn’t last long.
An unexpected disruption to the world’s global supply of crude oil sent investors on a flurry of speculation in the week’s opening gambit, taking the attention away from policy decisions by major central banks that had been slated to be the focus.
The US dollar traded sideways for the week albeit closing marginally higher by 0.02% to 98.272.
ABQAIQ, Saudi Arabia (Reuters) - Saudi Arabia on Friday took media on a tour of oil facilities damaged by attacks that Washington and Riyadh blame on Iran, showing melted pipes and burnt equipment, as Tehran vowed wide retaliation if heightened tensions boil over into hostilities.
KUALA LUMPUR: Bursa Malaysia witnessed a surge in trading volume and value on Friday, while late buying of Maybank enabled the FBM KLCI to snap its recent losing streak, but not enough to close above the key 1,600 level.
KUALA LUMPUR: Bursa Malaysia was en route to a third straight day of losses as monetary stimulus measures by major central banks failed to lift investor sentiment amid global growth concerns.
KUALA LUMPUR: The ringgit opened higher versus the US dollar today, lifted by the rising crude oil price, which is currently trading at US$63.84 per barrel, up by 0.81 per cent.
HOUSTON: Brent crude oil prices rose more than 1% on Thursday on fears of longer-than-expected supply shortfalls following Saturday's attacks on a key Saudi Arabian oilprocessing facility and escalating tensions in the Middle East.