Oil settled slightly higher on Friday, but posted a weekly decline, after Iran played down a reported Israeli attack on its soil, a sign that an escalation of hostilities in the Middle East might be avoided.

Oil settles slightly higher as Iran plays down reported Israeli attack

KUALA LUMPUR (April 19): Uzma Bhd plans to raise RM68.35 million via a private placement of 15% of its current share base to help fund the development of a water injection facility (WIF) which it is to lease to a unit of Hibiscus Petroleum Bhd.

Uzma plans RM68.4m private placement to fund O&G support job

Saudi Arabia will need a higher oil price than previously thought this year as the Opec+ leader spearheads the group’s production cuts, according to the International Monetary Fund.

Saudi Arabia needs oil price near US$100, IMF says

Oil prices were broadly steady on Thursday, as investors weighed US sanctions on Venezuela and Iran, and robust US jobs data against the wider backdrop of demand concerns and easing Middle East tensions that had pushed prices 3% lower on Wednesday.

Brent futures LCOc1 were up 10 cents, or 0.11%, to US$87.39 a barrel at 1358 GMT, while US crude futures CLc1 were 26 cents higher, or 0.31%, at US$82.95 a barrel.

Oil steadies as new sanctions interrupt easing tensions

Liquefied natural gas (LNG) remains the fuel of choice for lower-carbon shipping, despite the rise in orders for vessels equipped with dual-fuel methanol and ammonia engines, according to Oslo-based Rystad Energy.

LNG remains top choice for dual-fuelled vessels in shipping, says Rystad

Oil prices slipped more than US$1 on Wednesday as likely higher US commercial inventories weighed, while weaker economic data from China and dimmed prospects of interest rate cuts stoked worries about global demand.

Brent LCOc1 futures for June were down US$1.21, or 1.3%, to US$88.81 a barrel at 1330 GMT, while US crude CLc1 futures for May were down US$1.11, or 1.3%, to US$84.25 a barrel. Both were on track for their biggest fall since March 20 if losses hold.

Oil falls over US$1 as demand worries outweigh MidEast supply risks

Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

Shell urges investors to reject shareholder group's climate demands

Oil fundamentals don't support Brent crude's climb to US$95-US$100, says AmInvestment

WASHINGTON (April 16): Iran’s unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran’s oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts.

Biden unlikely to cut Iran’s oil lifeline after Israel attack

Oil prices rose on Tuesday amid heightened tensions in the Middle East after Israel's military chief said his country would respond to Iran's weekend missile and drone attack amid calls for restraint by allies.

Oil prices rise on solid China growth, Middle East tensions

Oil prices drifted lower on Monday, with the market downplaying the risk of broader regional conflagration after Iran's weekend attack on Israel.

Brent LcOc1 futures for June delivery fell 81 cents, or about 0.9%, to US$89.64 a barrel by 1335 GMT while West Texas Intermediate (WTI) CLc1 futures for May delivery were down 69 cents, or about 0.8%, at US$84.97.

Oil slips as risk premium eases after Iran attack

KUALA LUMPUR (April 15): United Overseas Bank Ltd (UOB) cautioned that if tensions in the Middle East continue to rise and disrupt Iran’s oil production, crude oil prices could climb towards US$100 per barrel (bbl) or even higher.

UOB alerts of possible crude oil price surge to US$100/bbl amid Middle East tensions

(April 15): Oil futures were barely moved by Iran’s unprecedented attack on Israel, with traders attributing the lackluster price action to the notion that the strike was well-flagged beforehand, and expectations that the conflict will remain contained in the aftermath. As Israel weighs its response to the assault, here’s what market watchers are saying about the outlook:

What’s next for oil? Analysts weigh in after Iran’s attack

The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in the Organisation for Economic Co-operation and Development (OECD) countries and a slump in factory activity.

IEA trims oil demand forecast on weakness in wealthier countries

Barisan Nasional (BN) component parties are required to help the candidate representing the unity government in the Kuala Kubu Baharu state by-election, said BN deputy chairman Datuk Seri Mohamad Hasan.

Kuala Kubu Baharu by-election: BN component parties have to assist unity govt candidate, says Mohamad Hasan

Chief Minister Datuk Seri Hajiji Noor emphasised that the positive economic achievements over the past three years underscore the Sabah government's steadfast commitment to both the administration and development of the state.

Positive economic achievements prove Sabah govt's commitment, says Hajiji

Property developer Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.

Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.

Scientex aims to build 50,000 affordable housing units by 2028

The Madani government is committed to eradicating hardcore poverty in Sabah despite knowing the situation is quite complicated to resolve, said Prime Minister Datuk Seri Anwar Ibrahim.

Madani govt committed to eradicating hardcore poverty in Sabah, says Anwar

S P Setia Bhd has officially launched the LakePoint Complex commercial hub at the 1,235-acre freehold township of SetiaAlam Impian in Shah Alam on Saturday. The ceremony was officiated by the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

Selangor Sultan officiates launch of S P Setia’s LakePoint Complex at Setia AlamImpian

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.

Selangor Sultan conveys condolences to Tun Hanif Omar’s family

Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.

Kuala Kubu Baharu by-election: PN to hold supreme council meeting on Monday

Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.

'Crowded' megacap trade in US stocks awaits earnings test

Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.

Tesla's Elon Musk postpones India trip, aims to visit this year

Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

DNB says process relating to subscription of its shares by five mobile network operators ongoing

Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.

Former IGP Tun Hanif Omar passes away

The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.

Enegem: Malaysia edges closer to RE exports

A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.

Philippines wants US, Japan to take over rail deal eyed by China

Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

Attention this week will be on the March inflation rate, with the Department of Statistics Malaysia (DOSM) slated to put out Consumer Price Index (CPI) — the key gauge for inflation — data on Thursday.

Inflation edged up by a higher-than-expected 1.8% i...

The Week Ahead: Eyes on March inflation, US 1Q GDP and tech earnings

A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

Bitcoin ‘halving’ cuts supply of new tokens in threat to miners

Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

Approved logistics players to get diesel fleet cards amid subsidy rationalisation

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.

Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.

S P Setia Bhd has officially launched the LakePoint Complex commercial hub at the 1,235-acre freehold township of SetiaAlam Impian in Shah Alam on Saturday. The ceremony was officiated by the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.

Ringgit likely to trade around 4.78 versus greenback next week

Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.

Property developer Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.

Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.

Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

IMF concerned about debt, fiscal challenges facing low-income countries

Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.

Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".

Fed survey cites inflation, US election as key financial stability risks

The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

World Bank wins US$11b in pledges to boost lending for climate, global crises

PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

No specific names discussed for Sabah PKR State Leadership Council head, says Fahmi

The Madani government is committed to eradicating hardcore poverty in Sabah despite knowing the situation is quite complicated to resolve, said Prime Minister Datuk Seri Anwar Ibrahim.

Chief Minister Datuk Seri Hajiji Noor emphasised that the positive economic achievements over the past three years underscore the Sabah government's steadfast commitment to both the administration and development of the state.

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