Latest news with #FlorenceTan
Yahoo
01-06-2025
- Business
- Yahoo
Oil rebounds after OPEC+ sticks to same output hike in July vs June
By Florence Tan SINGAPORE (Reuters) - Oil prices rebounded more than $1 a barrel in early Asian trade on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with market expectation. Brent crude futures climbed $1.06, or 1.69%, to $63.84 a barrel by 2244 GMT while U.S. West Texas Intermediate crude was at $61.95 a barrel, up $1.16, or 1.91%. The Organization of the Petroleum Exporting Countries and their allies decided on Saturday to raise output by 411,000 barrels per day in July, the third straight month of increase by the same amount, as the group known as OPEC+ looks to wrestle back market share and punish over-producers. The group had been expected to discuss a bigger production hike. "Had they gone through with a surprise larger amount, then Monday's price open would have been pretty ugly indeed," analyst Harry Tchilinguirian of Onyx Capital Group wrote on LinkedIn. Oil traders said the decision for a 411,000-bpd output hike has already been priced into Brent and WTI futures which slipped more than 1% last week.
Rakyat Post
14-05-2025
- Entertainment
- Rakyat Post
Weekend Recharge: New & Fun Activities Happening In The City
Subscribe to our FREE Weekend is on us soon and if you're unsure of your plans, here are some suggestions to get you out of the house. There are preloved markets to satisfy the shopping itch, foodie pop-ups to satiate your hunger, and movies and art galleries to refresh the eyes. TRX Eats | 9 May-1 June | The Exchange TRX | 10am-10pm | Free public event TRX Eats returns with exclusive menus, themed dining nights, and pop-up culinary experiences along with Market Lane, a new weekend hangout spots featuring fun markets, workshops, and more. For updates, please refer to TRX Eats's official Instagram page READ MORE: Museum Week 2025 | 13-18 May | Urban Museum KL | 12pm onwards | Free tour with RM20 admission ticket To celebrate International Museum Day, Urban Museum (UR-MU) is holding daily guided tours and free admission Friday until 18 May. The tour is led by museum staff who will provide you with insights into the world of contemporary art. Before you know it, you'll hit your daily 10,000 step goal while admiring art pieces. To buy the admission ticket online, head over to the museum's official website 23 rd French Film Festival | 15-25 May | GSC MV, Starling Mall | Ticketed event The 23 rd French Film Festival this year brings a selection of critically acclaimed gems, audience favourites, family-friendly animations, and genre standouts to foster cross-cultural connections between France and Malaysia. The movie line-up include titles like The Count of Monte Cristo, Rosalie, Infested, Night Call, Monsieur Aznavour, and Flow. For more information, head to GSC's official website Summer Sale | 17 May | Badan Warisan Heritage Centre | 10am-5pm | RM10/pax Badan Warisan Malaysia is holding a Summer Sale featuring a curated selection of new and preloved items, unique artisan goods, and hidden treasures. Gerai@JP Session | 17 May | JPTeres, Grand Hyatt | 6.30pm-10pm Experience the magic of Peranakan Cuisine with the legendary Celebrity Chef Florence Tan at JPteres, Grand Hyatt KL. For bookings, send an email to or drop a WhatsApp message at +60 12 621 9869. The itinerary can be found Kloset | 17-18 May | Semua House | 11am onwards | Free public event Kloset is a market where you can browse and shop for preloved goodies, fashionable clothes, and more. To keep things exciting, there'll be fun workshops, chill activities, and delicious treats to munch on throughout the day. The Art of Tea Mixologist | 18 May | Tea Rock, TRX | 4.30pm-6.30pm | RM99/pax Tea Rock at the Exchange TRX is hosting a hands-on tea mixing experience in collaboration with TBC Academy. The session is led by mixologist Loo Hong Xiang who will take participants through the fundamentals of tea blending, flavour pairing, and crafting a personalised drink for youself in a relaxed and fun atmosphere. To register, contact 011-12770717. Still Life Painting | 18 May | Temu House, PJ | 6pm-8.30pm | RM120/pax Temu House is hosting a still life painting session following the theme of Toys & Trinkets. Think quirky robots, vintage treasures, and your cherished lucky charm. The session will be led by Silas Oo and all materials will be provided. If interested, please sign up by filling the Google Form Datun Julud Mob Dance Trail | 24 May | The Exchange TRX | 4pm-6pm | Free public event Datun Julud is a traditional long dance performed by the women in the Kenyah Dayak community of Borneo. The dance which symbolises happiness and gratitude is performed to thank the spirits for a bountiful harvest. The dance will start from The Exchange TRX to Central Market. To join the mob dance, please register your interest by filling the form Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Yahoo
04-05-2025
- Business
- Yahoo
Oil drops more than $2/bbl as OPEC+ accelerates output hikes
By Florence Tan SINGAPORE (Reuters) -Oil prices fell more than $2 a barrel in early Asian trade on Monday as OPEC+ is set to further speed up oil output hikes, spurring concerns about more supply. Brent crude futures dropped $2.04 a barrel, or 3.33%, to $59.25 a barrel by 2240 GMT while U.S. West Texas Intermediate crude was at $56.19 a barrel, down $2.10, or 3.60%. Both contracts touched their lowest since April 9 at Monday's open after OPEC+ agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day (bpd). The June increase from the eight will take the total combined hikes for April, May and June to 960,000 bpd, representing a 44% unwinding of the 2.2 million bpd of various cuts agreed on since 2022, according to Reuters calculations. "The May 3 OPEC+ decision to raise production quotas another 411,000 bpd for June adds to the market expectation that the global supply/demand balance is moving to a surplus," Tim Evans, founder of Evans on Energy said in a note. The group could fully unwind its voluntary cuts by the end of October if members do not improve compliance with their production quotas, OPEC+ sources told Reuters. OPEC+ sources have said Saudi Arabia is pushing OPEC+ to accelerate the unwinding of earlier output cuts to punish fellow members Iraq and Kazakhstan for poor compliance with their production quotas. Barclays lowered its Brent forecast by $4 to $66 a barrel for 2025 and by $2 to $60 a barrel for 2026 because of the accelerated phase out by OPEC+, analyst Amarpreet Singh said in a note. Meanwhile, tensions flared in the Middle East after Israeli Prime Minister Benjamin Netanyahu vowed to retaliate against Iran for the Tehran-backed Houthi group firing a missile that landed near Israel's main airport. Iran's Defence Minister Aziz Nasirzadeh said on Sunday that Tehran would strike back if the United States or Israel attacked. Sign in to access your portfolio
Yahoo
28-04-2025
- Business
- Yahoo
Oil edges up despite murky economic outlook, potential OPEC+ supply hike
By Florence Tan SINGAPORE (Reuters) - Oil prices inched up in early trade on Monday but remained dogged by uncertainty over trade talks between the U.S. and China clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising its supply cast more gloom. Brent crude futures and U.S. West Texas Intermediate crude nudged higher for a third session, up 9 cents by 0025 GMT to $66.96 and $63.11 a barrel, respectively. "Absence of news is pushing oil prices modestly higher as traders are positioned short ahead of potential increased OPEC+ supply from the May 5 meeting and a significant production boost in the USA," Michael McCarthy, chief executive officer of online trading platform Moomoo Australia. Some members of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, are expected to suggest that the group accelerates oil output hikes for a second consecutive month when they meet on May 5. Expectations of oversupply and concerns about the impact of tariffs on the global economy caused Brent and WTI to fall by more than 1% last week. The market has been rocked by conflicting signals from U.S. President Donald Trump and Beijing over what progress was being made to de-escalate a trade war that threatens to sap global growth. In the latest comment from Washington, U.S. Treasury Secretary Scott Bessent on Sunday did not back Trump's assertion that negotiations with China were under way. Earlier, Beijing denied any talks were taking place. Many participants in the International Monetary Fund and World Bank Spring Meetings said Trump's administration was still conflicted in its demands from trading partners hit with his sweeping tariffs. Investors are also watching nuclear talks between Iran and the United States in Oman which continue this week. Iranian Foreign Minister Abbas Araqchi said he remained "extremely cautious" about the success of the negotiations. In Iran, a powerful explosion at its biggest port of Bandar Abbas has killed at least 40, with more than 1,200 people injured, state media reported on Sunday. On Sunday, top officials in the Trump administration pressed Russia and Ukraine to make headway on a peace deal following a one-on-one meeting between Trump and Ukrainian President Volodymyr Zelenskiy at the Vatican a day earlier. Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
Oil heads for weekly rise as US adds sanctions on Iran, OPEC cuts
By Florence Tan SINGAPORE (Reuters) - Oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged further output cuts to compensate for pumping above agreed quotas. Brent crude futures rose 34 cents, or 0.5%, to $66.19 a barrel by 0029 GMT, and U.S. West Texas Intermediate crude was at $62.91 a barrel, up 44 cents, or 0.7%. Both benchmarks settled 2% higher on Wednesday at their highest levels since April 3 and are on track for their first weekly rise in three. Thursday is the last settlement day of the week ahead of the Good Friday and Easter holidays. President Donald Trump's administration issued new sanctions targeting Iran's oil exports on Wednesday, including against a China-based "teapot" oil refinery, ramping up pressure on Tehran amid talks on the country's escalating nuclear programme. Adding to supply concerns, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday it has received updated plans for Iraq, Kazakhstan and other countries to make further output cuts to compensate for pumping above quotas. "(These factors) certainly could have affected sentiment – would argue that Iranian production (is) not significant and that OPEC quotas more often breached than observed, but both factors fed into the more bullish tone," said Michael McCarthy, CEO of online investment platform Moomoo. Big draws on U.S. gasoline and distillates stocks and a smaller than expected gain in weekly crude inventories also bolstered markets, he said. [EIA/S] "Much of the recent selling pressure in global crude markets related to fears of an imminent flood of U.S. oil, but the drop in refining suggests that bottlenecks to supply may be emerging," McCarthy said. Still, OPEC, the International Energy Agency and several banks, including Goldman Sachs and JP Morgan, cut forecasts on oil prices and demand growth this week as U.S. tariffs and retaliation from other countries threw global trade into disarray. The World Trade Organization said it expected trade in goods to fall by 0.2% this year, down from its expectation in October of a 3.0% expansion. Sign in to access your portfolio
