KUALA LUMPUR (Dec 26): Energy-related stocks on Bursa Malaysia fell this morning after the plunge in crude oil prices on Monday.

At 9.30am today, the decliners were led by Alam Maritim Resources Bhd, which fell 7.14% or 0.5 sen to 6.5 sen; Hibiscus Petroleum Bhd, down 5% or 4 sen to 76 sen; Perdana Petroleum Bhd, which fell 5% or 1 sen to 20 sen; and Sapura Energy Bhd, down 3.17% or 1 sen to 30.5 sen.

Other decliners included Dialog Group Bhd, Handal Resources Bhd, KNM Group Bhd, Petron Malaysia Refining & Marketing Bhd.

Oil prices plunged more than 6% to the lowest level in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market, according to Reuters.

US crude futures and global benchmark Brent hit their lowest levels since 2017 during the session, putting both benchmarks on track for losses of about 40% in the fourth quarter, it said.

US crude futures have hit the lowest level since June 22, 2017, as jitters have grown about the impact of the escalating US-China trade dispute on global growth and crude demand. Brent crude is at its lowest level since Aug 17, 2017, said Reuters.