Trends - Brent oil - Business Recorder

Brent oil

US oil may retreat to $67.57 before rising

On the daily chart, oil has broken a triangle which suggests a target around $75.

Published 04 Jun, 2021 10:55am

Markets

Brent oil may retreat to $69.87

On the daily chart, the break above a resistance at $70.75 turned out to be invalid. The contact could be pulling back towards the uptrend trendline of a wedge.

Published 04 Jun, 2021 10:54am

Markets

Oil steady after sharp rise on improved demand picture

Brent steady after settling at highest since January 2020.
WTI hit highest since October 2018 on Wednesday.
New round of Iran nuclear deal talks next week.

Published 03 Jun, 2021 07:44pm

Markets

Brent oil targets $72.71

Support is at $70.95, a break below could cause a fall into $69.87-$70.41 range. On the daily chart, oil broke a resistance at $70.75.

Published 03 Jun, 2021 12:09pm

Markets

Brent oil may retest resistance at $71.38

Support is at $69.87, a break below which could cause a fall limited to $69.20.

Published 02 Jun, 2021 12:12pm

Markets

Brent hits highest since March on demand prospects

Americans hit the road on Memorial Day holiday.
OPEC+ expected to continue slow increase in supply.
Producer group and allies meets to set policy on Tuesday.

Published 01 Jun, 2021 06:38pm

Markets

US oil may retest support at $66.11

A break, however, could signal the continuation of the wave C towards $71.28.

Published 01 Jun, 2021 11:42am

Markets

Brent oil biased to retest support at $68.66

If it occurs, the correction towards $66.29 could be the last retracement before bulls launch a major attack.

Published 01 Jun, 2021 11:38am

Markets

Oil trades near $70 a barrel on improving demand outlook

OPEC+ to meet on Tuesday.
Producers likely to stick to gradual easing of supply cuts.

Published 31 May, 2021 08:36pm

Markets

US oil may retest support at $66.11

It is quite certain that the contract could break this zone and rise towards $71.93.

Published 31 May, 2021 11:42am

Markets

Brent oil may test support at $68.66

Because of this failure, the contract may experience the final correction before rising above a bullish wedge.

Published 31 May, 2021 11:37am

Markets

Oil inches higher

LONDON: Oil prices inched higher on Friday, with Brent holding near $70 a barrel as strong US economic data and...

Published 29 May, 2021 03:59am

Markets

Oil inches higher as upbeat demand outlook counters supply concerns

Brent, WTI set to close the week with 5%-6% gains.
OPEC+ likely to stick to existing policy.
Worries over impact of Iranian supply return ease.

Published 28 May, 2021 06:35pm

Markets

Brent oil may extend gains into $70.41-$70.95 range

A fall from the current level may be limited to the support zone of $68.78-$69.20. On the daily chart, oil is poised to break a resistance at $70.75 and rise to $73.50.

Published 28 May, 2021 11:46am

Markets

Oil prices dip on concerns about possible return of Iranian supply

US crude, gasoline stocks fall more than expected.
Summer demand outlook in US, Europe supports prices.
Market eyes upcoming OPEC+ meeting.

Published 27 May, 2021 08:31pm

Markets

US oil may fall to $64.71

It may experience the last correction before overcoming this strong barrier and rising towards $71.93.

Published 27 May, 2021 12:07pm

Markets

Brent oil may retest support at $68.08

On the daily chart, the consolidation from the March 8 high of $71.38 is being shaped into a wedge which looks like a bullish continuation pattern, to be followed by a rally.

Published 27 May, 2021 12:03pm

Markets

Oil falls as Iranian supply prospect outweighs demand optimism

US crude stocks fall in latest week, sources say.
Iran official upbeat about nuclear talks.
US dollar near multi-month lows.

Published 26 May, 2021 07:34pm

Markets

Oil near one-week high as prospect of Iran glut wanes

Brent crude futures were down 30 cents, or 0.4%, at $68.16 a barrel by 1004 GMT, having jumped 3% on Monday. US West Texas Intermediate futures were off 42 cents, or 0.6%, at $65.63 a barrel, after gaining 3.9% the previous session.
Still, the global recovery from the COVID-19 pandemic is patchy, indicating a mixed outlook for oil demand.

Published 25 May, 2021 05:18pm

Markets

US oil may revisit May 18 high of $67.01

Support is at $65.59, a break below could cause a fall to $64.71. On the daily chart, oil has pierced into a resistance zone of $65.65 to $66.60.

Published 25 May, 2021 11:27am

Markets

Brent oil may revisit May 18 high of $70.24

On the daily chart, the consolidation from the March 8 high of $71.38 is being shaped into a triangle which may be confirmed as a bullish continuation pattern, to be followed by a round of rally.

Published 25 May, 2021 11:23am

Markets

Oil jumps but set for weekly loss on Iran nuclear talks

Iran's Rouhani says US will lift sanctions.
Market braces for extra 1 mln bpd Iran supplies in H2.
Front-month prices set for biggest weekly loss since March.

Published 21 May, 2021 08:52pm

Markets

US oil may test support at $60.98

The contract has broken a support at $62.13. The next support will be at $60.98, around which a bounce may occur, as this support will be stronger than the one at $62.13.

Published 21 May, 2021 12:30pm

Markets

Brent oil may drop more to $64.08

Only a rise above $66.43 could signal a reversal of the downtrend.

Published 21 May, 2021 12:20pm

Markets

Oil edges up but set for weekly fall on Iran crude talks

Sultan Ahmed Al Jaber, chief executive of the Abu Dhabi National Oil Co, said on Thursday that oil demand has risen to 95 million bpd.

Published 21 May, 2021 12:02pm

Markets

Oil falls with possible return of Iranian supply

US refined product demand ticking up.
Indian corona crisis weighs on demand outlook.
UBS sees oil price at $75/bbl in H2.

Published 20 May, 2021 08:35pm

Markets

U.S. oil may rise to $64.71

In terms of duration or depth, the fall looks far from complete. Eventually, oil could drop to $62.13 again.

Published 20 May, 2021 01:02pm

Markets

Brent oil may bounce to $67.89

The pattern from the March 8 high of $71.38 may turn out to be double-top or a flat or a triangle. It is still too early to confirm any of them.

Published 20 May, 2021 01:01pm

Markets

Oil prices fall $2 on COVID-19 rise in Asia, inflation fears

Oil prices retreat from recent high on renewed demand concerns.
Demand outlook hit by rising infections in Asia.
Inflation uncertainties add to price declines.
Investors look to US oil inventory data on Wednesday.

Published 19 May, 2021 07:58pm

Markets

US oil neutral in $63.88-$65.45 range

The long-expected second correction may be developing towards $61.79, as indicated by a triangle.

Published 19 May, 2021 12:10pm

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	154.64
USD to Swiss Franc / Apr 19	0.91
Pound Sterling to USD / Apr 19	1.24
Euro to USD / Apr 19	1.07

Stock	Volume
S&P 500 / Apr 19	4967.23
India Sensex / Apr 19	73088.33
Tokyo Nikkei / Apr 19	37068.35
Nasdaq / Apr 19	15282.01
Hang Seng / Apr 19	16224.14
FTSE 100 / Apr 19	7895.85
Dow Jones / Apr 19	37986.40
Germany DAX 30 / Apr 19	17737.36

Item	Value
Crude Oil USD/Barrel / Apr 19	83.14
Karachi Cotton PKR/37.32 KG / Apr 19	21035
Gold 10 Grams PKR / Apr 19	214935
Gold Spot USD/Ounce / Apr 19	2391.93
Cotton US¢/pound / Apr 19	81.02
Petrol/Litre / Apr 20	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 20 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 20 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 20 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 20 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 20 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 20 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 20 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 20 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 20 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 20 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 20 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 20 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 20 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 20 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 20 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 20 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 20 Telecard Limited(TELE)	12,358,668 ▲ 0.00

Markets →

Calculate your monthly liability in FY24

Brent oil

Most Popular