Labour dept teaches migrant workers the importance of social distancing etc

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The Department of Labour Protection and Welfare has sent out a team of officials to instruct the employers of migrant workers about the government’s measures to prevent the spread of Covid-19. 

Apinya Sujarittanan, director-general of the department, said that many businesses had not put in place preventive measures to control the spread of the virus. 

“The language is partly a problem for migrant workers to understand what needs to be done in line with the government’s measures,” he said. 

The team of officials explained the measures to the migrant workers and also provided them with written guidelines in different languages. 

In the effort, migrant workers have been explained the importance of maintaining social distancing, staying away from gatherings and observing the curfew, Apinya said.

Oil price to bounce back by the end of the year, says SCBAM 

The oil price war, coupled with lockdown measures to deal with Covid-19 around the world, will trigger volatility in the oil market for some time, especially in futures such as WTI and NYMEX crude oils, said Nunmanus Piamthipmanus, chief investment officer at Siam Commercial Bank Asset Management (SCBAM). 

Oil futures prices would fluctuate sharply in the days before each month’s contracts come due, as demand is low as storage space was taken up by purchases made during the oil price war. 

In the medium to long term, oil prices would recover from its current level below $20 per barrel. 

When production is cut this May as planned, the price would rebound to $30 to $40 a barrel by the year-end, helped by an easing of the Covid-19 crisis. 

The chief investment officer remarked that oil at the $20/barrel level was not worth investing in. 

Although the “SCBOIL Feeder Fund” invests in WTI crude oil, the fund manager can rollover contracts of 12 months or less, she added. In fact, this means that the manager can invest in high-return contracts, without waiting for the contract.