MARKET TALK: SembMarine Down 2.2%; Extends Declines As Oil Slips

[LEFT]0721 GMT 25 June [Dow Jones] SembMarine (S51.SG) is down 2.2% at S$4.44, with an analyst saying it’s likely extending declines as Nymex August oil futures slip below the key S$80/bbl level where oil companies often begin to scale back E&P spending. Peer Keppel (BN4.SG), which is a somewhat more-diversified conglomerate, is down 1.2% at S$9.98. The pair’s near-term fortunes may turn on the weather, as oil prices are currently getting a fillip from a tropical storm in the Gulf of Mexico causing some concerns of supply disruptions. Among other stocks which are taking a hit from lower oil prices, Golden Agri (E5H.SG) is down 1.6% at S$0.63 and Wilmar (F34.SG) is down 1.7% at S$3.56.

[I]- Leslie Shaffer, Dow Jones Newswires[/I][/LEFT]