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Commodities / Re: Spot Brent Oil Price
« Last post by king on Today at 11:25:34 AM »



Business NewsHome > Business > Business News
Tuesday, 23 May 2017 | MYT 11:02 AM
Oil prices fall early Tuesday as White House proposes US oil reserve sales
image: http://www.thestar.com.my/~/media/online/2016/05/25/09/50/oil-pump-jacks.ashx/?w=620&h=413&crop=1&hash=2AF2E435DDC5425968AC590507BC95DB12621A97
After rising in Asian morning trading, Brent crude futures reversed their gains and were at $53.66 per barrel at 0232 GMT, down 21 cents, or 0.4 percent, from their last close.  U.S. West Texas Intermediate (WTI) crude futures were at $50.94, down 19 cents, or 0.4 percent.  The White House plan would gradually sell off half of the nation's emergency oil stockpile to raise $16.5 billion from October 2018, documents released by the administration late on Monday showed.
After rising in Asian morning trading, Brent crude futures reversed their gains and were at $53.66 per barrel at 0232 GMT, down 21 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $50.94, down 19 cents, or 0.4 percent. The White House plan would gradually sell off half of the nation's emergency oil stockpile to raise $16.5 billion from October 2018, documents released by the administration late on Monday showed.
 
SINGAPORE: Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country's strategic oil reserves in his budget plan, just as producer club OPEC and its allies are cutting output to tighten the market.

After rising in Asian morning trading, Brent crude futures reversed their gains and were at $53.66 per barrel at 0232 GMT, down 21 cents, or 0.4 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $50.94, down 19 cents, or 0.4 percent.

The White House plan would gradually sell off half of the nation's emergency oil stockpile to raise $16.5 billion from October 2018, documents released by the administration late on Monday showed.

Presidential budgets are often ignored by the U.S. Congress, which controls federal purse strings.

The plan was released just a day after Trump left OPEC's de-facto leader Saudi Arabia for his first overseas state-visit.

Any large release of U.S. strategic reserves would jolt oil markets, where the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, have pledged to cut supplies by 1.8 million barrels per day (bpd) in order to tighten the market and prop up prices.

Traders said that as any sales would only start next year and be gradual, their impact would be bigger on longer-term prices rather than those for immediate delivery.

"That's a surprise. Over a 10 year period though, so slightly less than 3 million barrels per month, it's not huge but it won't help Saudis efforts," said Oystein Berentsen, managing director for oil trading company Strong Petroleum in Singapore.

OPEC, led by Saudi Arabia, and other participating producers will meet on May 25 to discuss extending the period of the cut from covering just the first half of this year to all of 2017 and the first quarter of 2018.

WORLD'S BIGGEST RESERVES

The U.S. strategic petroleum reserves (SPR), the world's biggest, currently stand around 688 million barrels, a week's worth of global oil demand. <SPR-STK-T-EIA>.

Virendra Chauhan, analyst at Energy Aspects, said sour crudes made up 60 percent of U.S. SPRs, while sweet crude grades made up the rest.

U.S. production <C-OUT-T-EIA> is already at 9.3 million bpd, not far off levels of top suppliers Saudi Arabia and Russia.

The moves comes just after Goldman Sachs warned of "risks for a renewed surplus later next year if OPEC and Russia's production rises to their expanding capacity and shale grows at an unbridled rate."

Demand may also slow. "Quarterly growth of real gross domestic product (GDP) in the OECD area decelerated sharply to 0.4 percent in the first quarter of 2017, compared with 0.7 percent in the previous quarter, according to provisional estimates," the Organisation for Economic Co-operation and Development (OECD) said on Tuesday.

"Our macroeconomic view remains ... price-negative, which is likely to affect the medium-term demand for crude oil," said Marex Spectron. - Reuters
TAGS / KEYWORDS:
Oil & Gas , Commodities , Stocks , Markets

Read more at http://www.thestar.com.my/business/business-news/2017/05/23/oil-prices-fall-as-white-house-proposes-us-oil-reserve-sales/#yxEvtZ6AbLvacJGh.99
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Global Markets / Re: —帶—路
« Last post by king on Today at 11:21:51 AM »



Do all roads have to lead to China?

 china chinainvestments columns
 5 comments      P Gunasegaram     Published Today 8:18 am     Updated Today 10:26 am

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P Gunasegaram
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A QUESTION OF BUSINESS | The problem with one belt, one road (OBOR) is that all roads and belts lead to China and therefore it is little more than a thinly disguised grand design to ensure Chinese hegemony over all of Asia, including some of the less developed countries on the fringes of Europe.

It is not some benevolent project to benefit most of Asia and parts of Europe, but a plan using Chinese financial muscle and prowess in infrastructure development and manufacturing to make nations - many of them run by incompetent, corrupt leaderships - economically and financially dependent on China.

The plan will be one which showcases the more friendly face of China to the developing world after the ugly posturing in the South China Sea where it made artificial islands to bolster its military presence, openly and defiantly threatening other countries which had claims in the same areas.

But many leaders of some 65 countries which lie in the area covered by OBOR are salivating at the prospect of multibillion dollar projects into their country, seduced by all the attendant opportunities for money-making it entails through easy financing, over-pricing, corruption and patronage. It is manna from the Heavenly Kingdom!

Some like Malaysia and the Philippines, which had in the past criticised China heavily for its militaristic adventures, have seen the enticing light that money shines, substantially muting their rhetoric, now welcoming China openly as the saviour of economic growth and development.

But like all other superpowers, China has its own agenda of expanding its sphere of influence and well-being which are quite incongruent with the needs of developing countries along this belt and road. With the political leadership of these countries, including Malaysia, more interested in lining their own already fat pockets and ameliorating their own problems instead of bringing long-term benefit to their respective countries, China will exploit this corruption Achilles’ heel to the hilt like all the superpowers before it.

What and where is OBOR?

Some use the belt and road initiative, or BRI, to mean the same thing. The map gives a pretty good idea. It is a revival of the old overland silk route from China through West Asia into Europe via road and rail links, making more use and expanding rail links to Europe via Siberia, and a modern twist on the centuries old maritime route, but of course through the Suez Canal to Europe.



Confusingly, the belt is the Silk Road Economic Belt where the road is which includes countries like Kyrgyzstan, Tajikistan, Iran, Georgia and Turkey, and the road is the grandiose-sounding “Maritime Silk Road of the 21st Century” - in effect existing maritime sea routes. But China attempts to provide connectivity between ports, road and rail and pipelines as well, all of course improving connectivity with China.

If you want to know more about China’s official concept of what is OBOR, look at this propaganda-ish video from China Daily. But if you want something more informative and substantive, go to this article on OBOR.

An example of connectivity is the port of Gwadar in Pakistan to be developed with Chinese aid, read financing. From there it is envisaged that goods can move into and out of China via the proposed Pakistan economic corridor. Another example is the high-speed rail link between Malaysia and Singapore which is being billed as one which will eventually connect to Kunming in China.

Apart from the Silk Road Economic Belt, others include one each for Kazakhstan, Pakistan and Mongolia, one for Burma/Bangladesh and one for Southeast Asia.

Who builds the infrastructure, estimated at a massive US$5 trillion eventually...



Read more: https://www.malaysiakini.com/columns/383121#ixzz4hrqO2CEU
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Equities / Re: Blind Folded Buy What?
« Last post by Sailor on Today at 11:20:37 AM »
Forgot to tell.
News said somethings going to happen..but what news
dono.It came in when px was 67.5 to 69.5
Today up 9 to 10% only,may be wth the news,could
be another 20 to 30%.🤔
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Equities / Re: Blind Folded Buy What?
« Last post by Sailor on Today at 11:03:52 AM »
Got ppl say buy TRC    ^^^

How?
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Equities / Re: Spot KLCI Index
« Last post by king on Today at 11:03:08 AM »



1770.4
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Equities / Re: Spot KLCI Index
« Last post by king on Today at 11:02:31 AM »



1770.51
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Equities / Re: KLSE starting to collapse
« Last post by CurryLee on Today at 11:00:12 AM »
ikan chai...faster poot tip...faster poot tip!! today which one will make us eye big big? :D
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Equities / Re: INTA BINA GROUP
« Last post by DR KIM on Today at 10:56:26 AM »
Cabnet ipo steami ggg,,,,,,,intabina sure hot

Tp  88 sen  no sweat  :thumbsup:
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Equities / Re: Spot KLCI Index
« Last post by king on Today at 10:55:01 AM »



1770.67
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Equities / Re: Spot KLCI Index
« Last post by king on Today at 10:54:11 AM »



1770.88
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