Trends - Brent oil - Business Recorder

Brent oil

Brent oil neutral in $67.14-$68.76 range

As far as the longer-term outlook is concerned, oil looks neutral in a range of $66.29-$70.75, within which the consolidation has lasted for two weeks.

Published 19 May, 2021 12:06pm

Markets

Corn jumps 1.5% as USDA pegs planting behind forecast

The most-active soybean futures were up 0.5% at $15.95-1/4 a bushel, having closed flat in the previous session.

Published 18 May, 2021 11:18am

Markets

US oil may rise to $67.98

The second correction triggered by this zone looks too shallow, casting some shadow on the current rise.

Published 18 May, 2021 11:05am

Markets

Brent oil may rise towards March 8 high of $71.38

A wedge is contracting to a point, which looks more like a bullish continuation pattern. Once confirmed, it will suggest a target of $80.

Published 18 May, 2021 11:00am

Markets

Oil prices steady on hopes for economic recovery

Fresh restrictions imposed in Asia to curb pandemic
China April crude throughput slows from peak
British economy reopens after four-month lockdown
Recovery of US pipeline network eases supply concerns.

Published 17 May, 2021 08:50pm

Markets

Oil eases as Asia's COVID-19 restrictions dampen sentiment

In the Middle East, Israel and Gaza's ruling Hamas militant group faced mounting international calls for a ceasefire in hostilities that entered their second week on Monday with no end in sight.

Published 17 May, 2021 03:28pm

Markets

US oil may retest support at $63.88

It is undergoing a second correction.

Published 17 May, 2021 12:01pm

Markets

Brent oil may revisit May 14 low of $66.50

On the daily chart, the rise during the previous trading session was due to a support at $66.29.

Published 17 May, 2021 11:50am

Markets

Oil on track for 9-week high on rising demand outlooks

Brent futures rose $1.09, or 1.6%, to $69.64 a barrel.
US West Texas Intermediate (WTI) crude rose $1.08, or 1.7%, to $66.36.
India's coronavirus death toll crossed 250,000 in the deadliest 24 hours since the pandemic began.

Updated 12 May, 2021 07:32pm

Markets

Oil climbs on demand outlook as market awaits fresh cues

Brent crude climbed 83 cents, or 1.2% to $69.38 a barrel.
US unleaded gasoline prices hit an average $2.99 a gallon, the highest since November 2014, the American Automobile Association said.

Published 12 May, 2021 05:21pm

Markets

US oil may retest support at $63.88

The current correction could complete around $61.79, as suggested by a possible triangle.

Published 12 May, 2021 12:30pm

Markets

Asian markets suffer further as inflation data looms

Asian markets were broadly down for a second day. Tokyo extended Tuesday's more than three percent plunge, while Taipei's tech-rich bourse tumbled more than two percent.

Published 12 May, 2021 11:22am

Markets

Brent oil may test support at $67.33

On the daily chart, the gain on Monday proved to be a short-lived bluff by bulls. Market sentiment looks mixed, while oil is consolidating around $68.43.

Published 11 May, 2021 12:25pm

Markets

Oil climbs on cyber attack; metals shine on demand hopes

In reaction, New York's WTI crude and London Brent oil both gained about 0.4 percent in value on Monday.

Published 10 May, 2021 06:36pm

Markets

US oil may rise to $66.52

On the daily chart, a resistance zone of $65.65-$66.60 triggered the second correction, which looks too shallow to complete.

Published 10 May, 2021 11:13am

Markets

Brent oil may retest resistance at $69.87

A break above $69.87 will not only open the way towards $71.38, but also confirm a wedge, which indicates a target around $80.

Published 10 May, 2021 11:09am

Markets

Oil prices set for weekly gain despite India virus surge

China's exports and services sector expand in April.
April crude imports down 0.2% year on year in China.
Coming Up: Baker Hughes' US rig count at 1 p.m./1700 GMT.

Published 07 May, 2021 08:44pm

Markets

Oil prices set for weekly gain despite India virus surge

China's exports and services sector expand in April.
April crude imports down 0.2% year on year in China.

Published 07 May, 2021 06:26pm

Markets

US oil may fall to $63.88

The uptrend from $33.64 remains unchanged.

Published 07 May, 2021 11:39am

Markets

Brent oil still targets $67.14

Three smaller waves make up the wave 2. Based on the strength of the wave b, the current wave c could be very short.

Published 07 May, 2021 11:36am

Markets

Oil prices slip despite hefty US inventory fall

India posts record daily infections and deaths.
US crude stockpiles slump after export surge –EIA.

Published 06 May, 2021 09:01pm

Markets

US oil target of $67.98 aborted

Unless oil could quickly reverse the fall on Wednesday and break $66.52, it will be more likely to drop towards $62.62-$63.88 range.

Published 06 May, 2021 12:00pm

Markets

Brent oil may fall more to $67.14

In either case, oil is expected to retrace further over the next few days. Only a rise above $69.87 could confirm the continuation of the uptrend towards $71.38.

Published 06 May, 2021 11:58am

Markets

Oil up 1pc as US oil stocks fall, demand outlook brightens

US crude stocks fall by more than expected – EIA.
Easing restrictions in UK, US boost demand hopes.
US exports, refining output surge in harbinger of more demand.

Published 05 May, 2021 09:09pm

Markets

Oil nears $70 as easing Western lockdowns boost summer demand outlook

API data shows bigger-than-expected drop in US crude stocks.
Easing restrictions in UK, US boost demand hopes.
Market eyes EIA data due later in the day.

Published 05 May, 2021 06:38pm

Markets

US oil may rise to March 8 high of $67.98

Support is at $65.88, a break below which could cause a fall into $64.75-$65.45 range.

Published 05 May, 2021 12:25pm

Markets

Palm oil poised to break resistance at 4,098 ringgit

Even though the contract failed four times to overcome this barrier, the subsequent corrections became shallower.

Published 05 May, 2021 12:23pm

Markets

Brent oil may test resistance at $69.87

The waves on the trend from $35.74 have been relabelled.

Published 05 May, 2021 12:21pm

Markets

Oil rises on US, Europe demand growth optimism

Demand boost in US, Europe bolsters sentiment.
Strong US economic outlook, weaker dollar also supportive.
India's soaring COVID-19 infections limit demand outlook.

Published 04 May, 2021 07:53pm

Markets

US oil may revisit April 30 low of $63.08

A downward wave C is developing towards a range of $58.84-$61.37.

Published 04 May, 2021 12:01pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 8	278.28
USD PKR Interbank Buying / May 8	278.03
USD to Japanese Yen / May 8	155.51
USD to Swiss Franc / May 8	0.91
Pound Sterling to USD / May 8	1.25
Euro to USD / May 8	1.07

Stock	Volume
S&P 500 / May 8	5187.67
India Sensex / May 8	73466.39
Tokyo Nikkei / May 8	38202.37
Nasdaq / May 8	16302.76
Hang Seng / May 8	18313.86
FTSE 100 / May 8	8354.05
Dow Jones / May 8	39056.39
Germany DAX 30 / May 8	18498.38

Item	Value
Karachi Cotton PKR/37.32 KG / May 7	19935
Crude Oil USD/Barrel / May 8	78.99
Gold 10 Grams PKR / May 8	205075
Gold Spot USD/Ounce / May 8	2308.85
Cotton US¢/pound / May 8	80.06
Petrol/Litre / May 9	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 9 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 9 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 9 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 9 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 9 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 9 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 9 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 9 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 9 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 9 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 9 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 9 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 9 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 9 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 9 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 9 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 9 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 9 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 9 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 9 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 9 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 9 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 9 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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