Oil Drops Further, Energy Stocks Plummet

Friday, 19 August 2011 10:36

Written by Teguh Hidayat

Oil Drops Further

Theindonesiatoday.com - The energy commodities slipped further, after dropped sharply on Thursday (August 18). The futures prices of Asian Nymex Crude oil was at USD 81.39 per bbl, down 1.20% from previous settlement, while the Natural Gas gained 1.23% to USD 3.93 per MMBtu. Heating Oil and Gasoline were settled at USD 2.87 and 2.78 per gallon respectively.

In JAKARTA, oil and gas stocks lost led by Elnusa and Energi Mega Persada, which dropped 4.00% and 3.41%. PGN and Ratu Prabu fell 2.19% and 2.30% each. The rest also inched down. In the regional markets, Petrochina dropped 4.09%, followed by others with 2-3% falls.

Oil and gas stocks in the NYSE crashed again, led by Anadarko 8.01%, and StatOil 6.98%. Devon, Petrobras, and ENI dropped more than 5%. The others lost 3-4%. In Toronto, Talisman fell 5.76%, while in Madrid, Repsol declined 5.24%.

Coal stocks in Jakarta dropped. Adaro lost 4.17%, while Borneo, Berau, Delta Dunia Makmur, Indo Tambangraya, and Resource Alam dropped above 3%. The others were dropped 0 - 2%. Only Garda Tujuh Buana that extended its gain by 17.81%.

In regional markets, Yan Zhou Coal dropped 6.83%, followed by others with 2-3% of decline. In the United States, Xstrata and Arch slashed 10.17% and 9.39% respectively, while Anglo American and Peabody dropped 6.96% and 7.20% each. (teguh@theindonesiatoday.com)

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