JAKARTA (Yosefardi) – Nymex crude oil dropped further by 1.25% to US$101.6 per barrel in Asian trading Monday (Sept 30) as tension over Syria eased off.
The commodity has dropped from as high as US$110 per barrel. Shares of oil and gas producers in the region, meanwhile, dropped significantly this morning.
PetroChina lost almost 2% in Hong Kong, while Energi Mega Persada (ENRG) dropped 4.4% in Jakarta. Medco Energy also down 1.85%, while Elnusa dropped 3.51%. In Sydney, Santos Ltd and Woodside Petroleum declined 3.2% and 1.4% respectively.
Shares of coal producers were also in red, led by downfall of Indo Tambangraya Megah and Harum Energy by 5% each in Jakarta. Bumi Resources, the largest coal producer in Indonesia, collapsed 4.12%, while Adaro Energy down 1.1%.