Oil

Oil: Save for Vard and KimHeng Offshore & Marine, the O&G and O&M sector are generally in positive territory today, despite the slip in crude oil prices amid lingering concerns of a global supply glut.

This may be due to investors' anticipation of a positive outcome in the upcoming meeting between oil-producing countries next week (21 Oct), where the nations is expected to meet to discuss stabilising oil prices.

Recall that ailing Venezuela, which is also a participant at the meeting, earlier pressed for production cutbacks both by OPEC and non-OPEC countries to turn around oil prices, but was rejected by the participating nations.

A short-term technical outlook by Daily FX cited that while the recent drop in WTI Crude Oil price away from 2 ½ month highs has some price bulls worried, the price action is setting up for what could be an aggressive move higher.
This may be supported by a weaker dollar and building momentum as seen via the RSI, which opens up a more bullish picture.

http://www.dailyfx.com/forex/technical/article/cross-market_technical_update/2015/10/14/Crude-Oil-TA-10.14.-TYOil.html