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Concerns about demand have become the main market tone. Brent crude oil fell to a six-month low at one point, while US oil fell more than 4% during trading hours.
Despite the significant escalation of geopolitical tensions in the Middle East this week, which once briefly pushed up crude oil prices, the concern about economic recession has become the main market sentiment, and investors are worried about the demand for crude oil. Oil prices fell sharply on Friday, falling for four consecutive weeks, marking the longest decline since December last year.
Oil: Recent Price Action Is Associated With Global Macro Flows – TDS
SPT Energy (01251.HK) warn of losses: expected net loss of 60 million to 70 million yuan in the mid-term.
SPT Energy (01251.HK) announced on July 31st that, for the six months ending June 30, 2024, the group expects to record a net loss of approximately RMB 60 million to RMB 70 million, compared to a net profit of approximately RMB 6.8 million for the six months ending June 30, 2023. The board of directors believes that the main reasons for the above situation are: 1. The group's workload in the Kazakhstan market decreased in the first half of 2024 due to extreme weather conditions; and 2. The group made provisions for impairment losses on certain assets during this period.
Express News | SPT Energy - Expected Result Due to Volume of Work in Kazakhstan Market Decreased in First Half, Others
Express News | SPT Energy Group Inc Sees Net Loss Ranging From RMB60.0 Mln to RMB70.0 Mln for Six Months
SPT ENERGY: PROFIT WARNING
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