International crude oil benchmarks continued to decline on Tuesday, 26 November 2024, following reports of a potential ceasefire agreement between Israel and Hezbollah, alleviating concerns over supply disruptions from the Middle East.
Petronas Chemicals Group dialed in its first quarterly loss since its inception in 1988, citing the sharp depreciation of the US dollar against the Malaysian ringgit as the sole factor, The Edge reported.
Global oil benchmarks ended the week on a strong note, rising over 1% on Friday, November 22, 2024, to reach two-week highs. The gains were fueled by escalating geopolitical tensions in Eastern Europe, which heightened concerns about potential disruptions to Russia's oil infrastructure and supply.