KUALA LUMPUR: The ringgit was muted at the close yesterday against the US dollar on geopolitical risks, while oil prices slipped 0.15% to US$92.96 (RM389.60) per barrel, Bernama reported.

       Despite a seesaw trading, benchmark Brent crude oil prices were stable after hitting their highest in more than seven years over the conflict between Russia and Ukraine which could disrupt supply.

       Crude oil soared to its highest in more than seven years on concerns that a possible invasion of Ukraine by Russia could trigger the US and European sanctions that would disrupt exports from one of the world’s top producers.

       As an oil-exporting country, any sensitive news of a potential supply disruption may affect the currency, a dealer told Bernama.

       “Fortunately the positive gross domestic product (GDP) result that came last Friday has cushioned the impact on the ringgit,” he said.

       At 6 pm, the currency stood at 4.1885/1920 versus the US dollar from 4.1885/1910 recorded last Friday.

       Bank Negara had released the GDP figures for the fourth quarter of 2021, up by 3.6% versus consensus estimates of 3.1%.

       Meanwhile, Bursa Malaysia ended mixed yesterday on continuous buying support in financial services, plantation and oil and gas stocks amid a weaker regional market performance, a dealer said.

       At 5pm, the FBM KLCI advanced 4.95 points to 1,583.84.

       Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices closed mostly lower as investors were cautious due to heightened political tensions between Russia and Ukraine.

       “We reckon investor sentiment will also be cautious in the short-term due to the increased regional market volatility as a result of the political tensions,” Thong said.