Oil prices fall on stronger dollar, weak US gasoline demand

[ NEW YORK: Oil prices fell for the second consecutive session on Wednesday as the dollar strengthened and government data showed a surprise jump in U.S. crude and gasoline stocks. Brent crude futures for May shed 16 cents, or 0.2%, to settle at $86.09 a barrel while the more actively traded June contract was down … Read more

Oil trades little changed as markets weigh Russian supply cuts against weaker dollar

[ SINGAPORE: Oil was little changed on Tuesday, after rising in the previous session, as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks, though a slightly weaker U.S. dollar offered some support. Brent crude futures for May climbed by 7 cents to $86.82 a barrel, while … Read more

CPO futures to trade at current levels with upside bias next week

[ KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade at current levels with an upside bias next week. Palm oil trader David Ng said the low stock level as well as the weaker-than-expected production pace could support the strong sentiment. “Therefore, we expect the price to … Read more

Gold heads for weekly fall as June US rate cut hopes fade

[ GOLD prices firmed on Friday, but were on track for their first weekly drop in four over concerns that the Federal Reserve might defer interest rate cuts beyond June after data showed a higher-than-expected rise in inflation. Spot gold rose 0.1% to $2,162.10 per ounce, as of 1206 GMT. U.S. gold futures remained unchanged … Read more

FBM KLCI falls as US inflation data disappoints

[ KUALA LUMPUR: Bursa Malaysia struggled to keep the positive momentum going as hot US inflation data threatened to keep interest rates higher for longer, dampening the investment mood. Wall Street stocks ended lower overnight as the US’s February producer price index came in at a higher-than-estimated 0.6%, which could delay the start of interest … Read more

Investors cash out on KLCI rally

[ KUALA LUMPUR: Investors cashed out on gains made earlier in the week to take Malaysia’s benchmark index back to last Friday’s closing level. At 12.30pm, the FBM KLCI was down 14.86 points to 1,539.7, erasing the advance made over the last two trading sessions, while lower liners on the market were mostly negative with … Read more

Asia shares strike seven-month high ahead of US jobs data

[ SINGAPORE: Asian stocks rose to a seven-month peak on Friday, tracking global peers as investors cheered the prospect of an imminent rate easing cycle led by major central banks, keeping the dollar and Treasury yields under pressure. Japan remained an outlier as expectations mount that the Bank of Japan (BOJ) could finally exit negative … Read more

Oil prices hold gains on upbeat China trade data

[ SINGAPORE: Oil prices held steady on Thursday, holding onto overnight gains after upbeat Chinese trade data and after U.S. data showed a smaller-than-expected rise in crude inventories and large draws in fuel stocks. However, expectations that U.S. interest rate cuts could be delayed capped gains. Brent crude futures slipped 4 cents to $82.92 a … Read more

Analysts forecast lower CPO prices from 2Q onwards for this year

[ KUALA LUMPUR: Malaysia’s crude palm oil (CPO) is expected to trade lower from the second quarter onwards this year after witnessing high prices of RM4,000 per tonne in the first quarter of 2024, said Fastmarket Palm Oil Analytics senior analyst Sathia Varqa. He said supply risk from weather and geopolitical tension are the two … Read more