Daily Market Report (24 July 2019)

  • Crude oil price has been rather steady of late with some upward bias as tension within the Gulf may be a catalyst for further upside. The Brent Crude closed 0.52% higher yesterday at US$64.16 following the tit for tat situations between Iran and the US.
  • With no apparent resolution in the immediate term, we reckon any escalations of the ongoing tension will only prop crude prices higher. May be time to look at some Oil & Gas stocks namely Hibiscus, Serba Dinamik, Bumi Armada, Yinson and Sapura Energy.