Oil prices ease on signs that Gulf crude exports are recovering, although tensions in the region remain elevated amid concerns over further military action and attacks on shipping. In early European trading, front-month Brent crude for December is down 1% at $101.26 a barrel, while WTI futures slide 1.8% to $91.24 a barrel. The Pentagon is sending a third aircraft-carrier strike group and additional Marine Corps ships to the Middle East as President Trump considers renewing strikes on Iran after the midterm elections.
PT T Exploration & Production remains a sell call to ttb wealth securities due to a structurally weak oil outlook and slowing volume growth to 5% in 2027 and 6% in 2028, down from 10% in 2026. Tenaga Nasional's renewable energy initiatives, including the Tasik Kenyir hybrid hydro floating solar project and Sungai Perak hydro life extension program, are expected to strengthen its long-term growth outlook and rejuvenate its ageing power-generation fleet, supporting earnings from 2028 onward as electricity demand rises, particularly from data centers.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing