Energy stocks retreat as crude oil prices fall

TheEdge Tue, Feb 26, 2019 01:48pm - 5 years View Original


KUALA LUMPUR (Feb 26): Stocks in the energy sector on Bursa Malaysia came under pressure in the morning session today after crude oil prices fell.

At the midday break, Bursa's Energy Index fell 1.91% or 19.90 points to 970.80.

Among the laggards in the energy sector this morning were Wah Seong Corp Bhd, Deleum Bhd, Scomi Group Bhd, Barakah Offshore Petroleum Bhd, Perdana Petroleum Bhd, Carimin Petroleum Bhd, Icon Offshore Bhd, Reach Energy Bhd, Hibiscus Petroleum Bhd, and Bumi Armada Bhd.

Reuters reported that oil futures tumbled more than 3% on Monday in their largest daily percentage drop this year after US President Donald Trump called on OPEC to ease its efforts to boost crude prices, which he said were "getting too high".

On Monday, Brent crude futures fell US$2.36 (RM9.61), or 3.5%, to settle at US$64.76 a barrel. US crude ended US$1.78, or 3.1%, lower at US$55.48.

At the time of writing, Brent crude futures were down 0.43% at US$64.63 per barrel, while WTI crude were down 0.61% at US$55.14 per barrel.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

7158 0.000
ARMADA 0.585
BARAKAH 0.035
BURSA 7.460
CARIMIN 0.875
DELEUM 1.390
HIBISCS-PA 2.010
ICON 0.720
PERDANA 0.320
REACH 0.025
WASCO 1.270

Comments

Login to comment.