Tuesday, August 9, 2011

Oil & gas counters dip in early trade

KUALA LUMPUR: Oil and gas-related counters fell sharply in early trade on Tuesday, Aug 9 as crude oil prices retreated and fell below US$80 per barrel.

At 9.37am, Petronas Gas lost 62 sen to RM12.28, Petronas Dagangan 52 sen to RM16.18, SapuraCrest 31 sen to RM3.93, Kencana 15 sen to RM2.60, Dialog 10 sen to RM2.42 and KNM seven sen to RM1.51.

The slide at the counters was also consistent with the slump at regional markets on escalating fears of a global economic slowdown.

The FBM KLCI lost 47.98 points to 1,449.01 at 9.37am.

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