Oil & gas stocks surge as oil tops US$50
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Singapore
SINGAPORE'S oil-and-gas (O&G) counters were lifted by the recent recovery of oil prices to above US$50 per barrel, but analysts remain bearish that the oil bounce will filter through to earnings.
The FTSE ST O&G Index on Wednesday rose 4.6 per cent to 350.15. Shares of Keppel Corporation rose 4.9 per cent to S$5.73, while Sembcorp Industries was up 4.1 per cent to S$3.02.
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