Brent crude was trading down $1.03, or 2.9%, at $34.76 by around 0130 GMT having switched in and out of positive territory before the U.S. announcement. The contract fell nearly 4% on Thursday.
U.S. crude was down $1.13, or 3.4%, at $31.85 after dropping 4% in the previous session.
Cash/Share 38 cents/share, PE 4. Registered free cash flow of 50M in 2019. Petronas maintain capex. . What is wrong with this counter? Margin Call?
Prospect is ok as belows:-
Project work activities are expected to continue with corresponding utilisation of marine support vessels driven by steady Work Order flows from the Maintenance, Construction and Modification (MCM) contract. Meanwhile, the collaboration with DOF Sub Sea recently has further strengthen our core capabilities and competencies in the area of Inspection, Repair and Maintenance (IRM) services. The prospect and sustainability of the Group is enhanced with the recent award of the 4 years Integrated Hook up and Commissioning (i-HUC) contract for Petronas Carigali Sarawak SKG package.
Oil prices dropped as much as 8% on Thursday as crude continues to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track for its worst week since December 2008, and its third largest weekly decline on record.
On Thursday WTI fell $2.04, or 6.2%, to trade at $30.95 per barrel. Earlier in the session it traded as low as $30.02.
International benchmark Brent crude fell $2.51, or 7%, to trade at $33.26 per barrel.
Oil plummeted 12% to a nearly 18-year low on Wednesday as the coronavirus pandemic continues to sap demand for crude and as rising worries about a global recession lead to fears of longer-term demand destruction.
U.S. West Texas Intermediate crude fell 10.7%, or $2.75, to trade at $24.20 per barrel. At the session low, WTI dropped more than 12% to $23.60 per barrel, its lowest level since April 2002.
International benchmark Brent crude shed 6.2%, or $1.80, to trade at $26.92 per barrel. Earlier it traded as low as $26.65, its lowest level since Sept. 2003.
Oil dropped 24% to a more than 18-year low on Wednesday as the coronavirus pandemic continues to sap demand for crude, and as rising worries about a global recession lead to fears of longer-term demand destruction.
U.S. West Texas Intermediate crude fell 24.4%, or $6.58, to settle at $20.37 per barrel, its lowest level since Feb. 2002. At the low of the day, the contract hit $20.06. It was WTI’s third worst day on record.
International benchmark Brent crude shed 14.1%, or $4.07, to trade at $24.67, its lowest level since 2003.
Congratulation if you have FISH the bottom yesterday!!!
All O&G done its lowest record low on the MEGA selldown since month ago. Today O&G rebounds strongly in range of 5%-15% in heavy volumes with the bullish divergence and MACD hook-up..
Does it mean that the SOLID BOTTOM was hit yesterday?
I believe "THE WORST IS OVER" for temporary....that we should start taking some position in the market presently.
While we may not be buying near the bottom, we will be buying now at deeply-depressed prices that would lower our potential downside risk & increase our potential upside return for more than 20%....what comes down must goes up!!
I quick done a summary on those potential target base on Fib. cal to hit in near term:
Oil dropped 11% on Friday, giving back early gains, even as the world’s richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S.
U.S. crude futures for April fell $2.79, or 11.06%, to settle at $22.43 per barrel. Brent crude futures fell $1.49 or 5.2%, to settle at $26.98 per barrel.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Will76
591 posts
Posted by Will76 > 2020-03-12 12:39 | Report Abuse
Breaking News from CNBC
Brent crude was trading down $1.03, or 2.9%, at $34.76 by around 0130 GMT having switched in and out of positive territory before the U.S. announcement. The contract fell nearly 4% on Thursday.
U.S. crude was down $1.13, or 3.4%, at $31.85 after dropping 4% in the previous session.