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UMW Oil & Gas, Hibiscus advance on higher crude oil prices

UMW Oil & Gas, Hibiscus advance on higher crude oil prices

KUALA LUMPUR (Jan 4): UMW Oil & Gas Corp Bhd and Hibiscus Petroleum Bhd advanced today, among Bursa Malaysia's most active stocks, after crude oil prices rose overnight.

Reuters reported U.S. West Texas Intermediate crude futures settled at US$61.63 a barrel, up US$1.26 or 2.1%, while Brent crude futures settled up US$1.27 a barrel or 1.9% to US$67.84 a barrel.

It was reported oil prices rose on Wednesday to its highest in 2-1/2 years, with buying spurred by a sixth day of unrest in OPEC member Iran and strong economic data from the United States and Germany.

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