Keppel Corp

US crude sinks 4.2%, settling at $68.06, after Treasury Dept eases market's Iran sanctions fears

• U.S. Treasury Secretary Steve Mnuchin said some oil buyers could get waivers to continue buying Iranian supplies despite American sanctions on the Middle Eastern country.
• Concerns about the aggressive U.S. policy to remove Iranian barrels from the market have raised oil prices in recent weeks.
• Oil prices slipped earlier on Monday as concerns about supply disruptions eased and Libyan ports reopened.(cnbc.com)

From TA point of view, it is yradtra below it's 20 , 50 , 100 and 200 days moving average, this is rather bearish.

Short term wise, it may likely go lower to revisit the recent low of $6.56. Breaking down of this price level would be quite negative and may see the price sliding further towards $6.46 then $6.35 with extension to $6.20.

Not a call to buy or sell.

Please do your own due diligence.

Keppel Corporation Limited, an investment holding company, engages in the offshore and marine, property, and infrastructure businesses in Singapore, China, Brazil, other Far East and ASEAN countries, and internationally. It constructs, fabricates, and repairs offshore production facilities and drilling rigs, power barges, specialized vessels, and other offshore production facilities; researches and develops deepwater engineering works; engineers, constructs, and fabricates platforms for the oil and gas sector; undertakes shipyard works and other general business activities; and procures equipment and materials for the construction of offshore production facilities. The company is also involved in the trading and installation of hardware, industrial, marine, and building related products; provision of leasing services; sourcing, fabricating, and supply of steel components; ship repairing, shipbuilding, and conversion activities; marine contracting and ship owning business; painting, blasting, and process and sale of slag; property investment, management, and development activities; fund management; golf and hotel ownership and operation; development of marina lifestyle and residential properties; trading of construction materials; development of district heating and cooling systems; electricity generation and supply, and general wholesale trade businesses; purchase and sale of gaseous fuels; and trading of communication systems and accessories. In addition, it offers jacking systems, and heavy-lift equipment and related services; project management and procurement, towage, financial, real estate investment trust management, logistics and supply chain, warehousing and distribution, data center facilities management, travel agency, and metal fabrication services; housing services for marine workers; and technical consultancy for ship design and engineering works, as well as solid waste treatment solutions. The company was incorporated in 1968 and is based in Singapore.