Friday, December 24, 2010


Oil: surged above US$91 a barrel to its highest price in >2yrs, on the back of ultra-cold weather stoking demand and depleting US stockpiles at the fastest pace in 12 yrs. US$100 eyed, as Libya, an OPEC member, appeared unconcerned by the gains. The mkt generally looks to OPEC signals for supply outlook.
News may give boost to rig builders, SMM, Keppel Corp, and the smaller O&G svcs plays like Ezra, STX OSV.

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