Losers and winners on SGX
Offshore and marine stocks fall while transport shares gain
Singapore
OFFSHORE and marine (O&M) companies listed in Singapore were dragged down by plummeting oil prices on Friday, as Opec's decision not to cut production sent Brent crude crashing 5 per cent during the day to US$72 per barrel.
With analysts expecting such levels - at four-year lows - to persist until the first half of 2015, at least, the resultant spending cutbacks in oil-related projects are seen hurting O&M companies here.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire
Glencore now sees FY trading division profit between US$3 billion-US$3.5 billion
Hong Kong team plants seeds to safeguard legacy grains
Gold holds steady as investors focus on US Fed meeting
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Oil falls more than US$1/barrel on Middle East peace talks, US rate cut doubts