Will Sembcorp Marine share price sink or swim in the coming months? In 2021, the rollout of COVID-19 vaccinations had led to gradual resumption of economic activities in various countries. While global economies had yet to recover to pre-pandemic levels, crude oil prices recently hit a 2-year high of US$73 per barrel. What is the implication of rising crude oil prices for local oil and gas stocks?
A long-time SG Wealth Builder member sought my insights on the recent recovery of crude oil prices and queried how this would affect SGX listed oil and gas stocks. The member did not specify any particular oil and gas stocks that he would like to cover, so I would share my views on Sembcorp Marine share price instead. This is because Keppel Corp and Sembcorp Marine are the top dogs in this sector. However, the former has announced its intention to exit the oil-rig building business to pivot in the renewable energy sector....