Oil proxies among main laggards in market
Data unexpectedly showing US inventories rising against street expectations led oil prices to fall for second day
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WITH oil prices falling for a second day after data unexpectedly showed US inventories rising against street expectations, the Singapore market's proxies for black gold were understandably lower on Thursday.
Upstream oil and gas firms like Rex International eased 0.6 Singapore cent or 3.2 per cent to 18.3 cents while GSS Energy fell 0.3 Singapore cent or 3.4 per cent to 8.5 cents.
Companies with sizeable exposure to the offshore and marine (O&M) sector also in the red.
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