Oil prices were steady in Asian trading on Wednesday, holding on to sanctions-driven gains from the previous session as the market looked ahead to an OPEC+ meeting over the weekend.

Malaysia’s manufacturing sector showed signs of improvement as the manufacturing purchasing managers’ index (PMI) edged up to 49.9 in August from 49.7 in July, its highest level since June 2024 and just shy of the neutral 50-point threshold.

The price of Urals crude has dipped to a discount of $3 to $4 a barrel to Brent on a delivered basis, according to people who received offers for the Russian grade, asking not to be identified discussing sensitive information

SINGAPORE: Japanese rubber futures ended lower in daytime trade on Monday, weighed down by heavy price competition in top producer China’s automobile sector, though concerns over raw material shortages capped losses.

SINGAPORE: Japanese rubber futures rose on Tuesday, buoyed by supply concerns amid heavy rain in top producing regions and a potential boost in demand from automobile manufacturers. The Osaka Exchange (OSE) rubber contract for February delivery was up 2.9 yen, or 0.92 percent, at 317.7 yen (USD2.16) per kg.

At 8 am, the local note rose to 4.2205/2300 from Friday’s close of 4.2230/2275.

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The ringgit is expected to trade sideways with an upside bias next week, reflecting a cautious but optimistic market sentiment, ahead of the Bank Negara Malaysia (BNM) Monetary Policy Committee meeting scheduled on Sept 4, said an economist.