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Rigbuilders gain on crude rally

Keppel, Sembmarine stocks up; analysts cautious about sustained oil price rebound

Published Wed, Feb 4, 2015 · 09:50 PM

Singapore

SINCE Monday, shares of Singapore's leading rig-builders, Keppel Corporation (KepCorp) and Sembcorp Marine (Sembmarine), have gained off the recent rally in crude prices, but the fundamental supply-demand mismatch of the oil markets still persist, market watchers say.

The recent drop in US rig counts, coupled with announcements of capital expenditure cuts by oil majors and a tumbling US dollar, has fuelled the recent rise in oil prices. Since Thursday, Bre…