News Formal

Chaotic overnight oil market sends ringgit lower at opening

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

More downside could be on the cards for local note if crude prices continue to remain under pressure. FMTNews Ringgit OilPrices Currency

KUALA LUMPUR: The ringgit opened marginally lower today following a chaotic overnight session in oil markets which saw the US crude futures plunge below US$0 for the first time in history.

AxiCorp global chief market strategist Stephen Innes said the West Texas Intermediate crude oil futures for May contract 2020 traded to -US$40.32 per barrel. “Should the crude oil price remains under pressure, which it is expected to, this could exert more downside risk to the ringgit,” he said in a note today.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Areas surrounding Selayang market under EMCO, market remains openPUTRAJAYA: Areas surrounding the popular Selayang wholesale market has been subjected to the enhanced movement control order (EMCO). Senior Minister (...
Source: theSundaily - 🏆 25. / 51 Read more »