AffinHwang Capital maintains Brent oil forecast of US$55 a barrel this year

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KUALA LUMPUR (March 30): AffinHwang Capital Research has maintained its “Neutral” rating on the oil and gas sector and said while the Yemen crisis may trigger some short-term spikes in oil prices, the impact would likely be limited as the overall oil market fundamentals remain weak.

“Hence, we maintain our 2015E Brent oil price forecast of US$55 per barrel and Neutral rating on the sector.

“To position for short-term trades on possible oil price spikes, we like SapuraKencana Petroleum Bhd, Bumi Armada Bhd and Alam Maritim Resources Bhd,” it said in a note today.