KUALA LUMPUR: The ringgit reversed its gains to open slightly lower against the US dollar today, as traders were seen adopting a wait-and-see approach due to the enforcement of the Movement Control Order (MCO) 3.0, a dealer said.
At 9am, the local currency eased to 4.1170/1220 against the greenback from Wednesday’s close of 4.1150/1200.
SPI Asset Management global managing partner Stephen Innes said the decline in oil price due to profit-taking after the increase in US oil product stocks also influenced the local note performance. In addition, there remain concerns that India could shift into a full lockdown, and the Organisation of the Petroleum Exporting Countries may be less inclined to overheat the market, given the political fallout from manipulating prices higher by holding back production, he told Bernama.
Oil Price Rally Vulnerable Amid Failure to Test March High
of clients are net short. Long
News
of clients are net short. Long
News
of clients are net short. Long
News
of clients are net short. Long
News
2021-05-06 14:30:00
David Song,
Strategist
Oil Price Talking Points
The price of oil pulls back from a fresh monthly high ($66.76) despite a larger-than-expected contraction in US inventories, but signs of subdued supply may keep crude prices afloat as US output remains at its lowest level since 2018.
Advertisement
Oil Price Rally Vulnerable Amid Failure to Test March High
The recent rally in the price of oil appears to be stalling ahead of the March high ($67.98) as it fails to extend the series of higher highs and lows from the start of the week, and crude prices may tr
Opec compliance with oil curbs rises as UAE joins cut
969504
TARGET CUT: The total curb achieved in March is 564,000 bpd
LONDON/DUBAI: Opec oil output is likely to fall for a third straight month in March, a survey found on Wednesday, as the United Arab Emirates made progress in trimming supplies while maintenance and unrest cut production in exempt nations Nigeria and Libya.
The reduction by the UAE has helped boost Opec compliance this month with its production-cutting deal to 95 per cent, up from an initial February estimate of 94 per cent and a record high, according to Reuters surveys.
The Organization of the Petroleum Exporting Countries pledged to reduce output by about 1.2 million barrels per day (bpd) from January 1 the first accord on supply curbs since 2008.
Marathon Oil Reports First Quarter 2021 Results
Generates Significant Free Cash Flow, Reduces Gross Debt, Raises Base Dividend
News provided by
Share this article
Share this article
HOUSTON, May 5, 2021 /PRNewswire/ Marathon Oil Corporation (NYSE:MRO) reported first quarter 2021 net income of $97 million, or $0.12 per diluted share, which includes the impact of certain items not typically represented in analysts earnings estimates and that would otherwise affect comparability of results. The adjusted net income was $166 million, or $0.21 per diluted share. Net operating cash flow was $622 million, or $637 million before changes in working capital
.
First quarter free cash flow of $443 million
First quarter capital expenditures of $184 million; committed to capital discipline with no change to $1 billion 2021 capital expenditure budget
U S Crude Stocks Plummet as Imports Drop, Exports Jump and Production Holds Steady, EIA Says naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.