Oil-linked stocks slide as crude hits fresh lows
Exploration and production companies will bear the brunt of losses, says Moody's
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
OIL-LINKED counters here continue to face the aftermath of plunging crude prices. As of Tuesday evening, crude prices hit fresh lows. Brent, the international benchmark for crude, traded at US$52.06 per barrel, while West Texas Intermediate, the US crude benchmark traded at US$49.06 per barrel, breaking yet another psychological price barrier.
Credit ratings firm Moody's said on Tuesday that it expects crude prices to remain weak through 2015, due to oversupply from non-Opec (Organisation of the Petroleum Exporting Countries) producers. Since its peak in June 2014, oil's value has more than halved.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
