Saturday, 03 Apr 2021 11:57 AM MYT
Glove stocks took a beating on Wednesday, after the US Customs and Border Protection directed its personnel at all US ports of entry to begin seizing disposable gloves produced in Malaysia by Top Glove Corp ― Picture by Hari Anggara
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KUALA LUMPUR, April 3 The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to breach the 1,600-level next week in line with broader optimism in the Unites States’ (US) economy and expected bounce in commodity prices, said an analyst.
Axi chief global markets strategist Stephen Innes said, however, the key index would likely be weighed down by glove stocks, due to improving global vaccination rates that would lessen demand for medical items such as gloves.
LPG prices on rollback by P3 30/kg mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
OPEC+ reaches deal to raise output from May OPEC+ still has deep production cuts in place New pandemic waves create uncertain demand outlook
NEW YORK, April 1 (Reuters) : Oil prices settled up more than $2 despite news that OPEC+ reached a deal to gradually ease production cuts from May.
Brent crude settled up $2.12, or 3.4%, to $64.86 a barrel. U.S. oil settled up $2.29, or 3.9%, at $61.45 a barrel.
OPEC+, which comprises the Organization of the Petroleum Exporting Countries, Russia and other allied producers, agreed to ease production curbs by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July.
OPEC+ has agreed to gradually ease its oil output cuts from May, after the new US administration called on Saudi Arabia to keep energy affordable for consumers.