KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher yesterday against the backdrop of strengthening crude oil prices.

Phillip Futures Sdn Bhd derivatives product specialist David Ng said scattered bargain hunting also helped prop up prices in light of the recent decline in CPO prices.

KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher yesterday against the backdrop of strengthening crude oil prices.

Phillip Futures Sdn Bhd derivatives product specialist David Ng said scattered bargain hunting also helped prop up prices in light of the recent decline in CPO prices.

http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/why-oil-prices-will-bounce-back-eventually/article21835650/

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1814297

Many would hv sold if not for "RI Talk" if RI 40 then mother 60 that kind of imagination led to d downfall in this forum but if crude did not drop then by now all would hv been laughing.

Saudi Arabia would only consider cutting production if other countries, including non-OPEC producer Russia, joined in limits, former Saudi intelligence chief Prince Turki bin Faisal said.



"Prices should find a volatile low at these levels" given that Russia, hurt by a drop in oil revenues, may act to prop up prices, Barratt said.......@Ring I think crude have hit d bottom already n may rebounce.

Oil Rebounds More Than 1% In Early Trade Wed

1 hours ago
SINGAPORE: Oil rebounded more than 1 percent on Wednesday, with Brent rising above $71 a barrel, recouping some of its losses from the previous session as a turbulent market struggled to find a price floor.

Fgv chairman not giving d right inputs blaming "d ground not even to do d dance".In d first shd not hv been listed in Klci becoz not ready.They did not implement d replanting programme n worst looking more land to plant adding salt to injury.Besides hv to pay yearly 220mln for LLA +15% profit to Felda, this kind of buisness shd not hv listed d compny.Those who bought d IPO r crying foul.As shareholders we need answers not take us for a ride?

http://www.freemalaysiatoday.com/category/nation/2014/12/03/dap-is-govts-fgvh-another-mas-in-the-making/

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended higher yesterday amid the rebound on the crude oil market, a dealer said.

Phillip Futures derivatives product specialist, David Ng, said the widening spread with the soya oil also contributed to the optimism.

He said the support level was located at RM2,150 and immediate resistance at RM2,250.

At the close, December 2014 and January 2015 gained RM29 to RM2,129 and RM2,146 a tonne respectively, February 2015 increased RM33 to RM2,142 a tonne, and March 2015 was up RM31 to RM2,143 a tonne.

Volume decreased to 45,849 lots from 59,556 lots yesterday, while open interest declined to 250,380 contracts from 269,888 contracts previously.

On the physical market, December South was RM30 higher at RM2,160 a tonne. Bernama

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended higher yesterday amid the rebound on the crude oil market, a dealer said.

Phillip Futures derivatives product specialist, David Ng, said the widening spread with the soya oil also contributed to the optimism.

He said the support level was located at RM2,150 and immediate resistance at RM2,250.

At the close, December 2014 and January 2015 gained RM29 to RM2,129 and RM2,146 a tonne respectively, February 2015 increased RM33 to RM2,142 a tonne, and March 2015 was up RM31 to RM2,143 a tonne.

Volume decreased to 45,849 lots from 59,556 lots yesterday, while open interest declined to 250,380 contracts from 269,888 contracts previously.

On the physical market, December South was RM30 higher at RM2,160 a tonne. Bernama

Don't trust d media I think d bottom price over soon U turn...Sharks expecting panic sellers becoz they wan't to buy.

http://www.nst.com.my/node/58543

Media downgrading O&G stocks.Nowadays I dont trust d media purposely they put this news, I personally feel d bottom of crude oil is over soon U turn.Now Sharks wants panic sellers for them to collect.Keep accumulating...but trading at yr own risk...it is yr money.

http://www.nst.com.my/node/58543

“We cross over to December on Monday. Of the 12 months in the year, December is arguably the safest to bet on. The KLCI recorded a positive return in all of the last 13 years, but one.

Foreign portfolio investors were net sellers every single week in November said the research house explaining that for the month, foreign investors sold RM307.5 million. For the year to November, the net outflow was RM4 billion, already exceeding the RM3 billion net inflow in 2013.

“The selldown by foreigners is still taking place amid moderate volume. However, foreign participation rate picked up last week although it was still below RM1 billion.

“Daily average gross purchase and sale amounted to RM972 million. We would be wary of any pickup in activity while the prevailing sentiment is negative.

“On a slightly positive note, the retail market has been supporting the market, mopping up shares for the fourth week running. Retailers bought RM12 million last week, and had purchased RM276 million in the last four weeks.

“However, the buying was passive, as participation rate was only RM737 million. Only those with holding power appear to be in the market,” it said.

In Venezuela ppl r rioting to death n they want 100 for crude.

Expert in this forum please feel free to elaborate! Saudi is a buddy of US n they hv invested billions in US and any impact on d investment will affect their profits.Now they r challenging US on d price war n I am skeptical on this scenario.In d media I read in d last 3mths that there is going to be a bull run end of this yr meanwhile in d last 3mths foreign funds gradually hv been exiting without causing suspicion.My conclusion d current monetary game (crude price) is being smartly orchestrated by both US/Saudi.Consumer spending is cheap in US, a pair of Lee wise jeans only cost USD30 n food very cheap n ppl being protected.U also notice loss of employment is quite high in US n many hv invested in retirefund,unit trusts etc n profit for this fund comes plenty from Asia.Now US using crude oil as tool to crash global shares to meet their own "Agenda".....bla bla....now we hope crude oil hv bottomed otherwise next bottom is 40 which is a disastrous. ...my2c.

I also waiting.......18

I think its a joint conspiracy between US n Saudi to crash Global shares...anyway they r good buddies....master mind...future prices depends on this two group of clowns!!!!!

http://www.nst.com.my/node/58249

Dow Jones 17,786.82 -41.42 0.23%
Nasdaq 4,777.53 -14.10 0.29%
........gone 2moro another drop our ringgit is weakening.

Not sure of US but China is storing in millions.

“It just adds to the negatives,” said Jonathan Cavenagh, senior FX strategist with Westpac in Singapore.

“I suspect until oil stabilises, the ringgit is at risk of continuing to fall.”

The ringgit may weaken to 3.4500 and the next target would be 3.4700-3.500, Cavenagh said.

Oil prices hit five-year lows, unable to find a bottom despite their biggest fall in 2 1/2 years last week as Opec held back from cutting output in the face of a supply glut.

Oil may rise 2Q2015 not now now price war n eventually shale must die.

KUCHING: The recent conclusion of the Organisation of Petroleum-Exporting Countries (Opec) meeting yesterday without cutting production quotas has led analysts to anticipate the worst for crude oil prices this year as they predict a further slide until December.

Analyst Kannika Siamwalla from RHB-OSK’s regional division yesterday expected, at worse, another 10 to 15 per cent slide – which would drop prices to US$65 to US$70 per barrel until year end.

“Over the next 12 to 24 months however, we expect to see the range of crude oil prices rise to US$90 to US$100 per barrel, with the first quarter of 2015 (1Q15) being the lowest period,” the analyst added.

“We also anticipate crude oil prices to pick up again in 2H15.”

KUCHING: The recent conclusion of the Organisation of Petroleum-Exporting Countries (Opec) meeting yesterday without cutting production quotas has led analysts to anticipate the worst for crude oil prices this year as they predict a further slide until December.

Analyst Kannika Siamwalla from RHB-OSK’s regional division yesterday expected, at worse, another 10 to 15 per cent slide – which would drop prices to US$65 to US$70 per barrel until year end.

“Over the next 12 to 24 months however, we expect to see the range of crude oil prices rise to US$90 to US$100 per barrel, with the first quarter of 2015 (1Q15) being the lowest period,” the analyst added.

“We also anticipate crude oil prices to pick up again in 2H15.”

Only solution US n Saudi hv to go for a amicable solution all this yrs US bully Arab now d reversal as d saying goes "every dog have its day".

The six-nation Gulf Cooperation Council is home to almost a third of the world’s proven oil reserves.

Governments in the region need a break-even oil price of about US$84 a barrel for this year, according to International Monetary Fund estimates. —Bloomberg

Saudi will press d panic button once their cash exhausts. They say for 2mths hv money to survive, Saudi want to crash Shale so pr may go very low????

Don't be shocked if Suma drop to 18????? becoz it has to follow crude pricing...

Yes! I agree Shale on natural death d Saudi prince knows it. Tit for tat "u try to kill me now I kill u". Saudi let let price take its own course. To compromise both US n Saudi should reduce d output.this may not take place shortly maybe first Q of 2015.

Todays price @ 23, I am sure defended by HS, can he manage further suppression???

@stonenut....i agree with u, may hit 40 any rebound is next year. The stumbling blog now is Saudi: 1) have sufficient funds to manage for one year 2) want their oil to penetrate US. 3) Will US cooperate. 4) In US mind they want to sabotage middle east.

Many would hv left this counter if not of "RI talk" just unfortunate.

Saudi says they r comfortable with 80.All i know Suma secretive about their production cost besides they hv to pay royalty etc n they using American assets to drill which is expensive.Any expert @ 80 what is d profit/barrel???????..tks.

Well planned by US jews.

Pls don't give false hope ppl r just angry.Many ppl had high hopes but all gone bust.HS cannot defend d stock becoz of crude oil price n rebound this mth to me NO. Even rebound next yr pr may stabilise @ 80. India n China r stocking d present cheap oil.Any rebound for Suma is next yr...my2c....?

....correction for next year 80....

What worries me, with this kind of price what is final Q going to be..i see negative n so what happens.Media predict oil price of 80 for next n Saudi also comfortable with this price so for now everything is mind boggling.

Moreover now is seasonal holidays n as u said FM hv to relax a very stressful job..i too agree with rebound if any is next yr.I don't see any positive for Dec....just relax.

This month seasonal holidays ppl on holiday mood so I feel index may drop below 1700.

It is time Obama n Saudi prince got to meet n smile

Spooner said the next support levels for Brent are at $68 and $64 a barrel. If West Texas Intermediate crude futures fall below $63.90 a barrel, the next support level would be at $50, he said. - Reuters

Spooner said the next support levels for Brent are at $68 and $64 a barrel. If West Texas Intermediate crude futures fall below $63.90 a barrel, the next support level would be at $50, he said. - Reuters.......

Spooner said the next support levels for Brent are at $68 and $64 a barrel. If West Texas Intermediate crude futures fall below $63.90 a barrel, the next support level would be at $50, he said. - Reuters

"They (OPEC) can get by at $60 a barrel, but that price would knock out a fair whack of the competition - much U.S. shale oil for example - as well as put investment in future capacity growth firmly on the back-burner," ANZ analysts said in a note.

"They're playing the long game, banking that others can't."

Oil hv to rebound but gone r days of 100/barrel may settle around 80.What kind of profit companies can make.Petronas pumping extra oil to meet budget.So if all start to pump more oil to earn profit, what happens???

But the group’s powerful Gulf members, led by kingpin Saudi Arabia, resisted the calls to turn down the taps unless they are guaranteed market share – particularly in the United States, where rising production of shale oil has contributed to the global supply glut.
McCarthy said weak Chinese manufacturing data released early Monday was “doing nothing to help oil prices”........@Ring....Saudi asking for market share which means US hv to turn down d taps...can all this happen???????