Energy firms dive in Asia after oil collapse

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Hong Kong - Energy firms were among the main losers in Asian trade on Friday following a plunge in oil prices fuelled by fresh global glut concerns, with most equity markets heading for a negative end to the week.

While traders are looking ahead to the release of crucial US jobs data later in the day, the collapse in crude prices has dented optimism on trading floors, with analysts warning about the possible effects on the economy.

Both main contracts tanked almost 5% on Thursday on fears about increased production from the US, Libya and Nigeria and the Opec cartel's commitment to extending an output cut beyond a six-month agreement.

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USD/ZAR
14.05
-0.1%
GBP/ZAR
19.84
+0.8%
EUR/ZAR
17.05
-0.3%
AUD/ZAR
11.01
-0.4%
JPY/ZAR
0.13
-0.3%
Gold
1,836.17
+0.3%
Silver
27.31
-0.5%
Palladium
2,958.47
+1.0%
Platinum
1,250.27
-0.5%
Brent Crude
68.28
+0.3%
Top 40
62,389
-0.3%
All Share
68,377
-0.2%
Resource 10
72,112
+0.9%
Industrial 25
85,665
-1.4%
Financial 15
12,740
+0.2%
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