KUALA LUMPUR (Aug 14): Stocks related to the oil and gas services industry fell this morning on weaker crude oil prices.

SapuraKencana Petroleum Bhd dipped as much as 14 sen or 6.7% to RM1.95 today after the United States crude oil price fall to 6½-year low of US$42 per barrel.

SapuraKencana’s (fundamental: 0.85; valuation: 0.8) share price pared losses and trade at RM1.97, with 8.01 million shares changed hands as at 10.46am.

SapuraKencana is an integrated oil and gas services and solutions provider to upstream petroleum industry.

Meanwhile, Perisai Petroleum Teknologi Bhd lost 4.41% or 1.5 sen to 32.5 sen with 2.37 million shares done.

Similarly, UMW Oil & Gas Corporation Bhd, which provides drilling services and oilfield services to the oil and gas industry, also saw its share price drop 8 sen or 7.14% to RM1.04, with 1.72 million shares traded, as at 10.46am.

The tumbling of the share price came after the WTI crude oil price fall to a six-year low of US$42 per barrel on Thursday as a combination of worries over growing global glut after the key US stockpiles showing a big rise, according to Reuters.

A rise in the dollar, after news of higher US retail sales in July and strengthening employment data, added to the weight on oil.

At 10.06am, WTI crude oil traded at US$42.04 per barrel, meanwhile Brent crude oil traded at US$49.25 per barrel.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)