Energy Sector Leads Gains as Oil Prices Rebound

February 28, 2026

Sector Analysis

The Edge Markets

Malaysia's energy sector showed strong performance on Friday, becoming the top gainer, buoyed by a rebound in international crude oil prices.

Against the backdrop of Brent crude oil prices surpassing US$85 per barrel, Bursa Malaysia's energy index surged 1.8% on Friday, leading the market. Key beneficiaries included Velesto Energy Bhd, which rose 3.5% to RM0.295, and Hibiscus Petroleum Bhd, which gained 2.8% to RM1.10. Analysts noted that the continued adherence to OPEC+ production cuts and expectations of improving global economic activity are supporting the upward trend in oil prices. Despite cautious overall market sentiment, the positive performance of the energy sector provided some market support. Energy stocks are expected to remain a focus for investors in the short term, as long as oil prices stay elevated.

View Source: The Edge Markets

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