KUALA LUMPUR (April 22): Oil and gas (O&G) counters continue to be in the limelight today as Brent crude oil prices slipped further below US$19 per barrel today as it continued to mirror the weakness in US West Texas Intermediate (WTI) prices as the reality of a supply glut spooked traders.
At 9.44am, Brent crude oil futures slipped as low as US$18.59 per barrel — the lowest since January 2002.
At the time of writing, Brent futures for June were down at US$18.63 per barrel, while WTI futures for June have rebounded to US$12.66 per barrel, after hitting -US$37.63 per barrel on Monday — the first time having a negative price in history.
At 10.33am, shares of Sapura Energy Bhd was down 5.56% or half a sen at 8.5 sen, with some 51.95 million shares traded — making it the second most actively traded counter on Bursa Malaysia now. This values the company at RM1.36 billion.
Hibiscus Petroleum Bhd also made the top active list, with some 49.25 million shares done. It was down 1.5 sen or 3.53% at 41 sen. This brings it a market capitalisation of RM651.59 million.
Trading volume in shares of Velesto Energy Bhd, Bumi Armada Bhd and KNM Group Bhd all already breached 20 million shares. Velesto fell one sen or 6.67% to 14 sen, while both Bumi Armada and KNM slid half a sen to 16 sen (down 3.03%) and 13.5 sen (down 3.57%) respectively.