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Oil prices fell around 3% in 2024, slipping for a 2nd straight year, as the post-pandemic demand recovery stalled, China's economy struggled, and the U.S. and other non-OPEC producers pumped more crude into a well-supplied global market.
Brent crude futures on Tue, the last trading day of the year, settled up 0.88%, to USD74.64 a barrel. U.S. WTI crude settled up 1.03%, to USD71.72 a barrel....

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(KUALA LUMPUR, 2nd) The long-awaited Penang Light Rail (LRT) project is about to commence. CIMC Securities believes that it is up to the University of Finance $GAMUDA (5398.MY)$ The leading consortium remains ahead of other bidders.
CIMC International Securities issued a report on Thursday stating that the Penang Light Rail Project is scheduled to hold a groundbreaking ceremony on January 11, and Gold Muda is still the preferred company to participate in the project.
Analysts have initially estimated that the 60% share of this RM8 billion contract will increase the number of orders to be completed by JMU by 72% in FY2025, to RM11.5 billion.
“We believe that in addition to stimulating construction-related projects, the implementation of cross-strait connections will also enhance Malaysia's resources $MRCB (1651.MY)$ The development potential of Penang Sentral (Penang Sentral).”
He stressed that with the two proposed stations along the Pearl Line put into operation, IJM $IJM (3336.MY)$ The connectivity of The Light Waterfront project, which is being developed, will improve.
In addition, the Penang Light Rail is mainly an elevated structure and is expected to benefit the piling industry - Yigang Holdings $ECONBHD (5253.MY)$ .
As for building materials vendors - Anyu Resources $ANNJOO (6556.MY)$ Its strategic position is also beneficial to its steel supply.
“Since Anyu Resources' main steel facility is located in Weibei County, Penang, only 6 km from Penang Plaza and 4 minutes by car...

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800% hit

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