Trends - Brent oil - Business Recorder

Brent oil

Oil falls 1pc amid dollar strength; demand picture still bullish

Brent crude futures were down 86 cents, or 1.2%, at $72.22 a barrel.
The bullish trend in oil remains intact, thanks to optimism surrounding the demand outlook. The dollar may well be strengthening but the fundamental picture for oil hasn't changed.

Published 18 Jun, 2021 06:34pm

Markets

US oil may retest support at $69.96

The pullback may extend to $67.14. Immediate target is $69.17.

Published 18 Jun, 2021 12:33pm

Markets

Brent oil may retest support at $72.08

On the daily chart, oil fell far below a resistance at $73.50.

Published 18 Jun, 2021 10:34am

Markets

Crude oil prices fall on stronger US dollar

Also boosting prices, refinery throughput in China, the world's second largest oil consumer, rose 4.4% in May from the same month a year ago to a record high.

Updated 17 Jun, 2021 12:15pm

Markets

US oil may fall into $69.96-$70.60 range

It is not very clear how deep the correction will be. Most likely it is extending towards $68.99, near the bottom of a wave (4).

Published 17 Jun, 2021 10:52am

Markets

Brent oil may retreat into $72.08-72.71 zone

A projection analysis suggests a target of $70.75, which will be available when the target zone on the hourly chart is reached.

Published 17 Jun, 2021 10:49am

Markets

Oil hits new high near $75 on demand rise, falling inventories

Brent hits $74.73, highest since April 2019.
API says US crude stocks drop 8.5 million barrels – sources.
Coming Up: EIA supply report, 1430 GMT.

Published 16 Jun, 2021 05:03pm

Markets

US oil may rise into $73.57-$74.99 range

Support is at $71.96, a break below which could cause a fall into a zone of $70.60-$71.28.

Published 16 Jun, 2021 11:08am

Markets

Brent oil may test resistance zone of $74.47-$74.54

Signals on the hourly chart suggest a pullback towards this former resistance or a consolidation around it.

Published 16 Jun, 2021 11:04am

Markets

Oil trades at multi-year highs on demand expectations

Vitol CEO sees oil price around $70-$80/bbl this year.
Trafigura CEO says good chance oil gets to $100/bbl.
POLL-US crude inventories seen falling for 4th week in a row.
Coming Up: API data on US crude stocks at 4:30 p.m. ET.

Published 15 Jun, 2021 09:01pm

Markets

Oil trades at multi-year highs on demand expectations

Brent crude rose 78 cents, or 1.1%, at $73.64 a barrel.
We have had those stock draws for a couple months, the market is heading in the right direction.

Published 15 Jun, 2021 07:38pm

Markets

US oil may retest resistance at $71.96

A failure to break $71.93 may be followed by a pullback towards the triangle.

Published 15 Jun, 2021 11:36am

Markets

Brent oil may retest resistance at $73.80

Oil is testing a resistance at $73.50 (close to $73.80 on hourly chart), which is partially responsible for the shallow correction on Monday as well.

Published 15 Jun, 2021 11:32am

Markets

Oil prices rise as demand improves, supplies tighten

Brent was up 53 cents, or 0.7%, at $73.22 a barrel.
US West Texas Intermediate gained 44 cents, or 0.6%, to $71.35 a barrel, its highest since October 2018.

Published 14 Jun, 2021 05:14pm

Markets

Brent oil may rise into $73.38-$73.80 range

The contract is yet to pull back towards the wedge. The higher it rises, the unlikely this pullback occurs.

Published 14 Jun, 2021 12:50pm

Markets

US oil may retreat to $69.96 before rising

However, a pullback towards the triangle has not occurred yet. This pullback could be a hidden mine to explode around $71.93.

Published 14 Jun, 2021 12:31pm

Markets

Oil rises to fresh multi-year highs on demand recovery

Brent crude futures edged up 13 cents to $72.65 a barrel.
"In 2022 there is scope for the 24-member OPEC+ group, led by Saudi Arabia and Russia, to ramp up crude supply by 1.4 million barrels per day (bpd) above its July 2021-March 2022 target," the IEA said.

Published 11 Jun, 2021 06:40pm

Markets

US oil may rise to $71.28

It is extending towards $75, as indicated by a bullish triangle.

Published 11 Jun, 2021 11:19am

Markets

Brent oil may retest resistance at $72.71

On the daily chart, the uptrend remains intact and is extending towards $75, as suggested by a confirmed wedge.

Published 11 Jun, 2021 11:15am

Markets

Oil prices boosted by rising US inflation

US crude stocks down, fuel inventories rise – EIA.
Libya to ramp up output after fixing pipeline leak – source.
India's May fuel demand hits 9-month low.

Published 10 Jun, 2021 08:31pm

Markets

Oil prices rebound after knock from US driving season data

US crude stocks down, fuel inventories rise – EIA.
Libya to ramp up output after fixing pipeline leak – source.
India's May fuel demand hits 9-month low.
Upcoming: US jobless claims, inflation data, OPEC monthly report.

Published 10 Jun, 2021 06:25pm

Markets

US oil may retreat into $68.51-$68.99 zone before rising

Wave pattern indicates the progress of a big wave C from $51.64, which may extend into a higher target zone of $79.68 to $84.47.

Published 10 Jun, 2021 11:22am

Markets

Brent oil may seek support in $71.38-$71.62 zone

Oil may take some time to fulfil these targets, as its rise is rather slow. Volatility may keep low over the next few weeks as well.

Published 10 Jun, 2021 11:18am

Markets

Brent oil may test resistance at $72.71

A bullish wedge suggests a target around $75.

Published 09 Jun, 2021 12:24pm

Markets

Oil prices retreat but outlook remains positive

As oil is priced in dollars, a stronger greenback makes crude more expensive for buyers with other currencies.
China's crude imports were down 14.6% in May on a yearly basis also weighed on prices.

Published 08 Jun, 2021 09:02pm

Markets

Oil eases on Iran concern after hitting two-year high above $72

US crude touches $70 for first time since October 2018.
Brent hits $72.27, highest since May 2019.
Iran, world powers to resume talks on June 10.

Published 07 Jun, 2021 06:12pm

Markets

Oil eases as investors await Iran nuclear talks this week

Analysts expect Iran, which is having its presidential election on June 18, to increase its production by 500,000 to 1 million barrels per day once sanctions are lifted.

Published 07 Jun, 2021 11:52am

Markets

Brent oil may test resistance at $72.71

Support is at $71.38, a break below could cause a fall into $70.41-$70.95 range.

Published 07 Jun, 2021 11:40am

Markets

Oil hits two-year high above $72 on OPEC+ discipline, demand hopes

Brent hits $72.17, highest since May 2019.
Slow inoculation and surging infections renew demand concerns US job growth picks up in May.

Published 04 Jun, 2021 08:44pm

Markets

Oil extends gains on OPEC+ discipline and demand hopes

Brent hit $71.99 on Thursday for highest since May 2019.
Slow inoculation and surging infections renew demand concerns.
Coming up: US non-farm payrolls, 1230 GMT.

Published 04 Jun, 2021 06:30pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 19	278.45
USD PKR Interbank Buying / Apr 19	278.15
USD to Japanese Yen / Apr 19	154.37
USD to Swiss Franc / Apr 19	0.91
Pound Sterling to USD / Apr 19	1.24
Euro to USD / Apr 19	1.06

Stock	Volume
S&P 500 / Apr 18	5011.12
Nasdaq / Apr 18	15601.50
Dow Jones / Apr 18	37775.38
India Sensex / Apr 19	72222.48
Tokyo Nikkei / Apr 19	37068.35
Hang Seng / Apr 19	16205.02
FTSE 100 / Apr 19	7834.89
Germany DAX 30 / Apr 19	17717.67

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 18	21735
Gold 10 Grams PKR / Apr 18	214077
Petrol/Litre / Apr 19	293.94
Crude Oil USD/Barrel / Apr 19	84.27
Gold Spot USD/Ounce / Apr 19	2382.04
Diesel/Litre / Apr 19	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 19 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 19 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 19 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 19 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 19 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 19 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 19 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 19 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 19 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 19 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 19 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 19 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 19 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 19 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 19 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 19 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 19 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 19 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 19 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 19 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 19 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 19 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 19 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 19 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 19 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 19 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 19 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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