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Tuesday, 4 October 2016

Exports Raise, Dipped in Oil Prices by 15 Cents Says Good Stocks!

International Brent crude oil futures were trading at US$50.79 per barrel.
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Multi Management and Future Solutions Singapore: Oil costs plunged from the get-go Tuesday, weighed around an ascent in Iranian fares that adds to a worldwide supply overhang, despite the fact that an arranged OPEC-drove supply cut not long from now has loaned rough some backing.

Universal Brent raw petroleum fates were exchanging at US$50.79 per barrel at 0015 GMT, down 10 pennies from their past close.

US West Texas Intermediate (WTI) unrefined was down 15 pennies at US$48.66 a barrel.

Merchants said costs were imprinted by the most recent ascent in Iranian unrefined and condensate deals, which likely came to around 2.8 million barrels for every day (bpd) in September, verging on coordinating a 2011 crest in shipments before assents were forced on the OPEC maker.

Be that as it may, examiners said Iran will battle to support yield further and achieving pre-sanctions levels makes it more probable Tehran will concede to some type of generation limitation with different individuals from the Organization of the Petroleum Exporting Countries (OPEC), including its local adversary Saudi Arabia, which is additionally pumping oil close record levels.

There was good faith that OPEC makers, and maybe likewise exporters outside the club like Russia, would discover some type of assention when the maker club meets in November, in spite of the fact that the dangers of disappointment remain.

"Until further notice, positive thinking has returned and the business sector will restlessly anticipate any affirmation of the assention or extra non-OPEC cooperation," Morgan Stanley said in a note to customers.

It included that "the danger of disillusionment is high, and essentials stay testing/unaltered in the meantime."

The US bank said essential value variables to look for in coming weeks incorporate chats on yield with non-OPEC individuals, most eminently with Russia, generation inside OPEC as its individuals attempt to press out oil before any potential cut or stop, supporting movement by makers into 2017 as forward value direction, and US stock and import information.


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  1. KLSE POSITIONAL SIGNAL: BUY AMEDIA AT 0.22 TARGET 0.242, 0.242, 0.263 SL 0.198
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