Dear readers, with the drone attack on Saudi Arabian oil facility, Brent crude oil has surged the most on record. To put that into perspective, the advance of $11.73 a barrel to $71.95 as the market opened today in Asia was the biggest advance in dollar-terms since futures started trading in 1988.
As such, I expect oil-, energy-related Singapore stocks may also rally here when the Singapore stocks markets open later. The two biggest names in the oil and energy sector here are Keppel Corporation and Sembcorp Marine; so, let us see whether the Saudi-news will translate into gains for these two stocks.
Keppel Corporation stock closed at $6.22 last Friday (13 Sep 2019) versus its 52-week low and high of $5.67 and $7.30 respectively. While Sembcorp Marine stock closed at $1.27 last Friday against the its 52-week low and high of $1.08 and $2.15 respectively.
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