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Crude Oil

OPEC+ presses for compliance with oil cuts

Wants Iraq, Nigeria, Angola, Kazakhstan to cut more.
Oil prices near 5-month highs.
Demand could reach pre-COVID levels in Q4.
Second virus wave seen as key risk to demand.

Published 20 Aug, 2020 01:36am

Markets

Oil slips as demand worries outweigh US stocks draw

US West Texas Intermediate (WTI) crude futures were down 32 cents, or 0.75pc, at $42.57 a barrel.

Published 19 Aug, 2020 03:50pm

Markets

Oil slips as demand fears outweigh strong U.S. stocks draw

With investors keeping one eye on a key producer countries’ ministerial meeting later in the day, Brent crude futures fell 33 cents, or 0.7%, to $45.13 a barrel by 0418 GMT, having edged up 9 cents on Tuesday.

Published 19 Aug, 2020 10:20am

Markets

Oil steadies as demand fears face off with high OPEC+ compliance

Demand concerns from coronavirus fuel market losses.
OPEC+ panel focuses on compliance with oil cuts.
Coming up: API data on US crude inventories.

Published 18 Aug, 2020 11:38pm

World

Japan ramps up aid to Mauritius after oil spill

The new team of seven experts is to leave Japan on Wednesday and will carry materials such as sorbent to help clean up the oil.

Published 18 Aug, 2020 01:42am

Markets

Trump administration finalizes oil drilling plan in Alaska wildlife refuge

The energy industry and Alaska Governor Michael Dunleavy said opening ANWR to drilling would create jobs and boost the state's economy.
A Republican-passed tax bill in 2017 opened the area to oil and gas leasing, a key pillar of US President Donald Trump's agenda to expand fossil fuel production.

Published 18 Aug, 2020 01:05am

Markets

OPEC+ compliance with oil output cuts in July around 97pc

OPEC+ technical JTC panel is meeting to review compliance.
No changes expected in OPEC+ supply cut deal.
OPEC+ ministerial panel meets on Wednesday.

Published 17 Aug, 2020 10:57pm

Markets

Oil rises on China plan to boost US imports, OPEC+ compliance

China plans to ship more US oil in Aug-Sept.
OPEC+ compliance with output cuts in July 97% -sources.
OPEC+ ministerial panel to meet on Aug. 19.

Published 17 Aug, 2020 10:45pm

Business & Finance

Iran says OPEC has raised and stabilised crude oil price

In 2018, US President Donald Trump pulled the United States out of Iran's 2015 nuclear deal with six powers and reimposed sanctions that have sharply cut Iran's oil exports.

Published 17 Aug, 2020 06:14pm

Markets

Oil steady as China's plans to boost US imports counters tensions

Brent crude was down 3 cents, or 0.1pc, to $44.77 a barrel by 0858 GMT, while US West Texas Intermediate crude was up 3 cents, or 0.1pc, to $42.04 a barrel.

Published 17 Aug, 2020 04:29pm

Markets

Oil prices advance as China ramps up U.S. crude imports

Brent crude added 30 cents, or 0.7%, to $45.10 a barrel by 0410 GMT, while U.S. West Texas Intermediate crude was up 34 cents, or 0.8%, to $42.35 a barrel.

Published 17 Aug, 2020 10:28am

Markets

Oil slips after IEA lowers 2020 demand forecast

The Organization of the Petroleum Exporting Countries (OPEC) also said that world oil demand will fall by 9.06 million bpd this year.
Wall Street has recovered most of the trillions in market capitalization lost in the early part of the pandemic.

Published 13 Aug, 2020 11:16pm

Markets

Oil steady after IEA lowers demand forecast, US stocks fall

Brent crude fell 12 cents, or 0.3%, to $45.31 a barrel by 1027 GMT, and West Texas Intermediate (WTI) was down 7 cents, or 0.2%, to $42.60 a barrel.

Published 13 Aug, 2020 05:08pm

Markets

Oil edges lower after jump on U.S. stocks draw

Brent crude was down 8 cents at $45.35 a barrel by 0150 GMT, after a gain of around 2% in the previous session. West Texas Intermediate oil was down by 6 cents at $42.61 a barrel after gaining 2.6% on Wednesday.

Published 13 Aug, 2020 10:30am

Markets

Crude rises 2pc after draw in US oil stocks spurs demand hope

NEW YORK: Crude prices rose more than 2% on Wednesday after government data showed US oil inventories fell across ...

Published 13 Aug, 2020 02:31am

Markets

Crude rises 2pc after draw in US oil stocks spurs demand hope

US fuel inventories fall as demand rebounds – EIA.
EIA now sees 2020 US production falling 1 mln bpd.
Oil demand this year to fall by 9.06 million bpd –OPEC.

Updated 13 Aug, 2020 01:19am

Business & Finance

Shell eyes stake in Nayara's $9bn Indian petchem project

Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities.
The petrochemical joint venture between Nayara and Shell was discussed at board of directors meetings of Nayara in November and December last year.

Published 13 Aug, 2020 12:41am

Markets

US fuel inventories fall as demand rebounds

Refinery utilization rose 1.4 percentage points to 81% of total capacity nationally in the week to Aug. 7, the Energy Information Administration.
US fuel demand rose to 19.37 million barrels per day last week, the highest since March, reducing gasoline.

Published 13 Aug, 2020 12:36am

Pakistan's intelligence agencies identify major cyber attack by India: ISPR

ISPR states that an advisory is being sent to all government departments and institutions in order to trace lapses and enhance cyber-security measures in place

Updated 12 Aug, 2020 06:06pm

Business & Finance

Oil rises after bigger-than-expected drop in US inventories

Brent crude was up 67 cents, or 1.5pc, at $45.17 a barrel by 1012 GMT, after falling around 1pc on Tuesday.

Published 12 Aug, 2020 04:18pm

Markets

Oil prices bolstered by bigger-than-expected drop in U.S. crude stocks

Brent crude LCOc1 was up 15 cents, or 0.3%, at $44.65 a barrel by 0206 GMT, after falling around 1% on Tuesday.

Published 12 Aug, 2020 10:25am

Markets

US refiners' biofuel bills soar in oil market slump

The coronavirus crisis has led to less blending activity generally and as a result the issue of fewer compliance credits.
Another Texas-based refiner, CVR Energy Inc, also raised its full-year estimates for RIN costs by 43% to about $100 million. It had spent $43 million last year.

Published 12 Aug, 2020 01:21am

Markets

US crude output drop in 2020 to be steeper than last forecast: EIA

The agency also expects US petroleum and other liquid fuel consumption to drop 2 million bpd to 18.46 million bpd in 2020.
Oil prices collapsed this year as the coronavirus pandemic slammed global demand and restricted travel across the world.

Published 12 Aug, 2020 12:13am

Business & Finance

Nigeria opens pipeline, depot repair to private investors

Built in the 1970s, the pipeline network is crucial to getting crude oil to NNPC's three refinery complexes.
The refineries themselves have run only sporadically, and NNPC shut them down earlier this year while they await repairs and upgrades.

Published 11 Aug, 2020 11:26pm

Markets

Oil higher on hopes for US stimulus, demand recovery

Brent crude added 29 cents, or 0.6pc, to $45.28 a barrel, by 0819 GMT. West Texas Intermediate US crude rose 38 cents, or 0.9pc, to $42.32 a barrel.

Published 11 Aug, 2020 04:08pm

World

Mauritius braces to halt new oil spill as tanker breaks up

The spill is a double blow for tourist operators who had hoped foreign tourists could soon return.

Published 11 Aug, 2020 01:52am

Markets

Oil climbs on Chinese factory data, US stimulus hopes

China's factory deflation slows in July.
US economic stimulus talks turn positive.
Iraq to deepen supply cuts in Aug, Sept.

Published 10 Aug, 2020 11:56pm

Markets

Oil climbs on positive China data, rising demand

Brent crude rose 54 cents, or 1.2pc, to $44.94 a barrel by 0852 GMT, while US West Texas Intermediate (WTI) crude was up 69 cents, or 1.7pc, to $41.91 a barrel.

Published 10 Aug, 2020 04:36pm

Markets

Oil prices rise 1% on Saudi Aramco's upbeat demand view, Iraq output cut

U.S. West Texas Intermediate (WTI) crude futures rose 50 cents, or 1.2%, to $41.72 a barrel at 0301 GMT, while Brent crude futures were up 40 cents, or 0.9%, at $44.80 a barrel.

Published 10 Aug, 2020 10:10am

Business & Finance

Deferred oil payment facility from Saudi Arabia expired last month: Ministry of Finance

The Ministry of Finance said that the deferred oil payment facility from Saudi Arabia expired on July 9 this year and a request to extend the agreement was being considered with Saudi Arabia.

Published 08 Aug, 2020 04:17pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 27	278.43
USD PKR Interbank Buying / May 27	278.23
USD to Japanese Yen / May 28	156.89
USD to Swiss Franc / May 28	0.91
Pound Sterling to USD / May 28	1.28
Euro to USD / May 28	1.09

Stock	Volume
S&P 500 / May 27	5304.72
Nasdaq / May 27	16920.79
Dow Jones / May 27	39069.59
India Sensex / May 28	75437.68
Tokyo Nikkei / May 28	38855.37
Hang Seng / May 28	18837.33
FTSE 100 / May 28	8306.71
Germany DAX 30 / May 28	18823.58

Item	Value
Karachi Cotton PKR/37.32 KG / May 27	19935
Crude Oil USD/Barrel / May 28	78.74
Gold 10 Grams PKR / May 28	206018
Gold Spot USD/Ounce / May 28	2343.50
Cotton US¢/pound / May 28	80.76
Petrol/Litre / May 29	273.10

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 29 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 29 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 29 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 29 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 29 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 29 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 29 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 29 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 29 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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