O&M stocks reel as oil prices hit new 6-year lows

Singapore

OFFSHORE and marine (O&M) stocks listed on the Singapore bourse were mauled on Thursday after a further slide in Brent crude prices prompted yet another bout of pessimism over their prospects, with several counters falling to multi-year lows.

The broad sell-off hammered some large-caps, with the world's No 2 rigbuilder Sembcorp Marine diving to a six-year low while rival Keppel Corp also slipped to its lowest point since 2011.