Trends - Brent oil - Business Recorder

Brent oil

Oil hits $68 on Libya force majeure despite pandemic surge

Libya declares force majeure on Hariga port.
US crude inventories expected to drop by 2.9 million barrels.
One year since WTI sank to minus $40.32 on massive glut.
Coming up: API oil inventory report, 2030 GMT.

Published 20 Apr, 2021 08:10pm

Markets

US oil may retest support at $62.62

A break above $63.88 could lead to a gain into $64.57-$65.75 range.

Published 20 Apr, 2021 11:39am

Markets

Brent oil biased to revisit Monday low of $66.17

On the daily chart, the trend seems to be developing within a rising channel, which suggests a fall towards $62.91.

Published 20 Apr, 2021 11:36am

Markets

Oil steadies as dollar slumps but pandemic surge weighs

Brent crude was down 4 cents, at $66.73 a barrel.
With oil priced in dollars, a softer greenback could spur demand from holders of other currencies.

Published 19 Apr, 2021 08:20pm

Markets

Oil inches up despite coronavirus-related demand concerns

Brent crude was up 32 cents, or 0.5%, at $67.09 a barrel.
With oil priced in dollars, a softer greenback could spur demand from holders of other currencies, boosting prices.

Published 19 Apr, 2021 07:48pm

Markets

Palm oil July contract may hover below 3,722 ringgit

On the third month continuous chart, the contract seems to be riding on a wave c, which is capable of travelling far below the nearest support at 3,659 ringgit

Published 19 Apr, 2021 11:31am

Markets

Oil rises above $67 in fifth day of gains on demand hopes

Brent on track for weekly gain of about 7%.
US, China economic recoveries bolster sentiment.
IEA and OPEC boost 2021 global oil demand growth forecasts.
Rising COVID-19 cases in other major economies weigh.

Published 16 Apr, 2021 05:05pm

Markets

US oil may retest support at $62.65

A break above $63.88 could open the way towards $65.45.

Published 16 Apr, 2021 11:30am

Markets

Brent oil may fall into $65.22-$65.73 range

The downward wave c is yet to develop, which may completely reverse the wave b.

Published 16 Apr, 2021 11:26am

Markets

Oil near one-month highs as demand outlook improves

US West Texas Intermediate futures fell 36 cents, or 0.6%, to $62.79. It had earlier reached $63.48, also the highest since March 18.
The IEA and Organization of the Petroleum Exporting Countries (OPEC) made upward revisions to their global oil demand growth forecasts for 2021 this week to 5.7 million barrels per day (bpd) and 5.95 million bpd respectively.

Published 15 Apr, 2021 07:35pm

Markets

US oil may end rise in resistance zone of $63.38-$63.88

On the daily chart, oil may extend its gains towards $64.12, which is near the resistance of $63.38-$63.88 on the hourly chart.

Published 15 Apr, 2021 11:32am

Markets

Brent oil may fall into $64.46-$65.22 range

A break above $64.71 could confirm the trend extension. On the daily chart, oil seems to have somehow lost its bullish momentum around a resistance $66.15.

Published 15 Apr, 2021 11:29am

Markets

US oil may test resistance at $60.94

8 On the daily chart, oil seems to be bouncing towards $61.74 again, around which, the downtrend may resume.

Published 14 Apr, 2021 11:49am

Markets

Brent oil may edge up into $64.46-$65.22 range

A break above $66.15 could lead to a gain into $68.14-$71.38 range.

Published 14 Apr, 2021 11:45am

Markets

Oil prices rise after robust China data, Middle East tension

US crude stockpiles seen down for third week -Reuters poll.
OPEC ups 2021 oil demand forecast.
Coming up: API inventory data at 2030 GMT.

Published 13 Apr, 2021 08:34pm

Markets

US oil looks neutral in $59.64 to $60.94 range

On the daily chart, oil looks sideways in a wider range of $57.88-$61.74.

Published 13 Apr, 2021 11:14am

Markets

Brent oil neutral in $62.47-$63.85 range

On the daily chart, the sideways mode remains unchanged.

Published 13 Apr, 2021 11:10am

Markets

Oil rises nearly 2pc on US vaccine rollout, Middle East tension

US at 22% vaccinated; other countries further behind.
Yemen's Houthis say they attacked Saudi Aramco facilities.
Crude prices remain rangebound.

Published 12 Apr, 2021 09:46pm

Markets

US oil remains neutral in $58.80-$60.04 range

The bias could be towards the downside, as a wave C from the April 6 high of $60.90 looks incomplete. It is expected to travel below the March 23 low of $57.25.

Published 12 Apr, 2021 10:04am

Markets

Brent oil remains neutral in $62.84-$63.84 range

There might be two different moves when the consolidation is over: A weak bounce towards $66.15 and a deep fall towards $54.43.

Published 12 Apr, 2021 10:02am

Markets

Oil prices dip on mixed supply and demand outlook

Brent crude futures for June fell 32 cents, or 0.32%, to $62.88 a barrel.
Both contracts are on track for a 2%-3% drop this week but still far from a low of $60.47 hit two weeks ago. Exerting downward pressure is the decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, to increase supplies by 2 million barrels per day between May and July.

Published 09 Apr, 2021 07:35pm

Markets

US oil neutral in $58.80-$60.04 range

On the daily chart, oil is stuck in a wider range of $57.88-$61.74.

Published 09 Apr, 2021 11:01am

Markets

Brent oil neutral in $62.84-$63.84 range

On the daily chart, signals are mixed, as oil is consolidating around $62.91, the 38.2% retracement on the uptrend from $49.20 to $71.38.

Published 09 Apr, 2021 10:57am

Markets

US oil may retest support at $58.80

It is expected to break this level in its current attempt.

Published 08 Apr, 2021 12:54pm

Markets

Brent oil may test support at $61.22

On the daily chart, oil is consolidating around $62.91, the 38.2% retracement on the uptrend from $49.20 to $71.38.

Published 08 Apr, 2021 12:53pm

Markets

Oil prices firm on stronger economic outlook

Crude stockpiles down and fuel inventories up, says API.
World powers and Iran hold talks on nuclear deal.
Coming up: EIA inventory data at 1430 GMT.

Published 07 Apr, 2021 05:53pm

Markets

Brent oil may retest support at $61.22

This move followed the deep fall on Monday. Bears seem to have taken good control of the market.

Published 07 Apr, 2021 11:20am

Markets

US oil may test support at $58.80

Resistance is at $60.04, a break above which could lead to a gain into $60.44-$60.94 range.

Published 07 Apr, 2021 11:18am

Markets

Oil rebounds on robust economic data, bargain hunting

Oil slumps over 4% in previous session on rising OPEC+ supply.
Strong US, China economic data support investor sentiment.
US expects 'difficult' Iran talks, sees no quick breakthrough.

Published 06 Apr, 2021 01:10pm

Markets

Oil loses $2/bbl as rising OPEC+, Iranian output weighs

OPEC+ to ease some output cuts between May and July.
Iran is also increasing output and exports.
Iran, US to hold indirect nuclear talks on Tuesday.

Published 05 Apr, 2021 09:10pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 24	278.59
USD PKR Interbank Buying / Apr 24	278.39
USD to Japanese Yen / Apr 24	155.21
USD to Swiss Franc / Apr 24	0.91
Pound Sterling to USD / Apr 24	1.25
Euro to USD / Apr 24	1.07

Stock	Volume
S&P 500 / Apr 24	5070.63
India Sensex / Apr 24	73852.94
Tokyo Nikkei / Apr 24	38460.08
Nasdaq / Apr 24	15712.75
Hang Seng / Apr 24	17201.27
FTSE 100 / Apr 24	8040.38
Dow Jones / Apr 24	38460.92
Germany DAX 30 / Apr 24	18088.70

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 23	21035
Gold 10 Grams PKR / Apr 23	213220
Crude Oil USD/Barrel / Apr 24	82.83
Gold Spot USD/Ounce / Apr 24	2318.17
Cotton US¢/pound / Apr 24	81.01
Petrol/Litre / Apr 25	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 25 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 25 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 25 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 25 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 25 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 25 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 25 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 25 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 25 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 25 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 25 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 25 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 25 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 25 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 25 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 25 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 25 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 25 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 25 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 25 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 25 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 25 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 25 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 25 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 25 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 25 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 25 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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