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[Dunia]
Oil Prices Tumble After Greece Vote, China Stock Market Turmoil
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Oil Prices Tumble After Greece Vote, China Stock Market Turmoil
Published on Monday, 06 July 2015 13:52
SINGAPORE: Oil prices fell sharply early on Monday after Greece rejected austerity measures demanded in return for bailout money and as China rolled out an unprecedented series of steps to prevent a full-blown stock market crash.
The result of the Greek referendum put in doubt its continued place in the single currency, pulling down the euro in early trading on Monday.
“With Greece reserves running low and no immediate bailout funds on the horizon, Greece is on a straight path out of the euro zone,” said Howie Lee of Singapore-based brokerage Phillip Futures.
“Early morning indices’ movements have shown the likes of the Nikkei and the STI to have fallen. The selling is likely to spread to European and U.S. markets once they open.”
In China, stock markets face a make-or-break week after officials rolled out a series of measures to prevent a full-blown stock market crash that would threaten the world’s second-largest economy, although share prices rocketed on Monday in response to Beijing’s measures.
International benchmark Brent futures were down around half a dollar at $59.80 per barrel at 0200 GMT, and U.S. crude futures were at $55.07 a barrel, down almost $2 since they last traded before the July 4 national holiday.
The falls meant that both crude futures were at their lowest levels since mid-April.
“Uncertainty over Greece is bearish for oil. It adds an extra negative factor on top of the turmoil in Chinese financial markets, the recent rise in U.S. drilling rigs, and a potential increase in Iranian oil supply,” said Olivier Jakob, senior energy markets analyst at Petromatrix in Zug, Switzerland.
“The main implication is for euro/dollar and I think it will put additional pressure on the euro.”
A strong greenback pressures oil markets as it makes dollar-traded fuel more expensive for countries using different currencies.
The euro slid more than 1 percent against the dollar and European stock and bond markets were poised to take a sharp hit with the resumption of trade on Monday, stunned European leaders called a summit for Tuesday to discuss their next move.
In China, brokerages and fund managers agreed to buy massive amounts of stocks to support markets which saw 30 percent falls since June, helped by China’s state-backed margin finance company which in turn would be aided by a direct line of liquidity from the central bank.
Meanwhile, U.S. drilling increased for the first time after 29 weeks of declines, data showed on Thursday, the strongest sign yet that higher crude prices are coaxing producers back to the well pad.
Production in Russia and the Organization of the Petroleum Exporting Countries (OPEC) is also at near records.
- Reuters
http://www.malaysiandigest.com/b ... gn=malaysian+digest
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minyak ada can turun tak cong??? |
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minyak dunia jual dlm RM atau USD? 
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Nampak gaya akan ada lebih bnyk foreign funds leaving Malaysia utk sustained stock di sana |
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minyak turun pttnya bagus utk kita..
tapi apakan daya... nilai RM pun turun lagi laju dari turunya harga minyak... |
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bukan apa....sebelum aku nak cakap kerajaan zholim aku nak kepastian dulu, ye la minyak jatuh ringgit pun jatuh mana la tau buleh cakap "kerajaan zholim minyak jatuh pun rega naik dekat2 nak raya ni, kerajaan zholim!!!!"
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tadi tengok berita tengahari kat tv, 61% rakyat greece memlih YES utk keluar dari EU, macam pilihanraya gitu. lepas ni greece masuk bahagian afrika ke asia. |
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don wurry
property sure go up hwanggggg nyeeee
Chow Chi Bye
Cheras
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rasanya referndum tu tak tanya nak keluar EU ke tidak... referendum tu cuma tanya perlu tak depa teruskan syarat austerity measure yg dikenakan oleh EU kalau nak duit bailout. So technically kalau EU setuju backdown syarat harsh austerity measure tu dan continue bagi hutang bailout takde la Greece keluar dari EU. Tapi most likely EU takkan backdown syarat austerity dan akan stop bagi hutang bailout. So nak taknak kenalah Greece print duit sendiri. Ini pemahaman aku la... kalau salah tolong betulkan.
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yup....greece akn keluar dari eurozone je bukan EU...maknanya greece tak pakai matawang euro la, dia akan pakai matawang lama dia sebelum euro drkhma ka apa nama nya tu...
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@gbam
Referendum tu bukan keluar EU, tu pasal reject bail out ikut formula Eu |
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ya aku pun faham begitu, greece cuma keluar eurozone pakai balik matawang lama dia. |
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nasib laa siapa yg invest kat danga bay, cyberjaya & iskandar
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Alaa,greece dah kluar euro nanti kurang la satu peserta eurovision. Kurang best la eurovision competition nanti. |
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Kalau Greece nak continue pakai Euro & ikut EU Monetary Policy... Greece kenalah ikut German or at least France punya produktivi level, tax efficiency, innovation capability... kalau tak memang hanyut la... bagi bailout money banyak mana pun tak cukup macam baling air atas pasir. Aku akan stop short saying Greeks are lazy... dah memang budaya depa macam tu... Orang Malaysia ni produktiviti mungkin not bad tapi innovation tak berapa so memang tak boleh nak sama level dgn Japs & Krauts.. they are just at a different level.. inbred.. |
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ni masalah sistemik, next in line spain, itali, portugal. lazy is very lame and subjektive. |
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Acong replied at 6-7-2015 03:36 PM
minyak dunia jual dlm RM atau USD?
nampakbgayanaya masalah greece dgn euro ni serius jugak ek. sampai leh kacau harga minyak dunia |
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greece keluar euro join somalia pula... |
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kurang permintaan, kira oversupply....... 
jgn risau dgn inflation.... deflation lebih bahaya 
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Post time 6-7-2015 03:21 PM
变色卡
Author
