SEMBCORP Marine, Rex International and China Aviation Oil Singapore have been found to be the three most actively traded when it comes to maritime, oil and gas and fuel trading stocks outside of the Straits Times Index , the Singapore Exchange said on Tuesday.
The three stocks have also averaged 8.9 per cent gains over the first 10 sessions of June, bolstering their average total returns in 2019 to date to 15.6 per cent. The benchmark price for crude oil has moved from US$45 per barrel at the end of 2018 to US$66 per bbl on April 23, and back to US$52 per bbl at present. Key drivers have been economic growth, PMI and interest rate outlooks, trade tensions, tightening liquidity, sanctions and geopolitics.
An overall improvement in oil prices for the majority of 2018 from January to September has had an overall positive impact on O&G businesses last year, SGX said.
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