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Oil & gas stocks take a hammering

Bank sector hit by spillover pressure from O&G sell-off; STI down 44.86 points, or 1.3%, at 3,305.64
Tuesday, December 2, 2014 - 05:50
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Not surprisingly, offshore oil and gas stocks sustained a heavy beating on Monday in the wake of continued weakness in oil prices.

NOT surprisingly, offshore oil and gas stocks sustained a heavy beating on Monday in the wake of continued weakness in oil prices. Their collapse helped drag the Straits Times Index down 44.86 points, or 1.3 per cent, to 3,305.64. Also not surprising was that there was weakness in the bank