Trends - Brent oil - Business Recorder

Brent oil

Oil slides 1% on fears over higher OPEC supply, slower China demand

Market sentiment was also dampened by weak manufacturing data out of China, Kikukawa said.

Published 02 Mar, 2021 01:33pm

Markets

US oil may test support at $59.08

Due to a small congestion area forming between Feb. 19 and Feb. 22, oil may fail to break $59.08 in its first attempt. A bounce could occur around this level.

Published 02 Mar, 2021 10:10am

Markets

Palm oil may fall into 3,466-3,545 ringgit range

A projection analysis on the uptrend from 3,210 ringgit reveals a realistic target zone of 3,466-3,545 ringgit range.

Published 02 Mar, 2021 10:08am

Markets

Brent oil may test support at $62.65

Oil may retreat into $59.08-$62.14 range.

Published 02 Mar, 2021 10:06am

Markets

Brent oil may retest support at $64.58

This wave could either end around $66.29 or extend a lot to $85.17. Regardless of the ending point of this wave, a consolidation around $66.29 is ongoing.

Published 01 Mar, 2021 10:09am

Markets

Oil drops on dollar strength and OPEC+ supply expectations

Rout in bond markets sends yields soaring.
Market expects increased oil supply.
OPEC+ producers meet on March 4.
Brent and WTI on track for 20% monthly gain.

Published 26 Feb, 2021 05:49pm

Markets

Chinese refiners cool on crude purchases as oil futures rally

The run rate at independent refineries is expected to fall below 70% in April, from around 74% presently, JLC analyst Zhou Guoxia said.

Published 26 Feb, 2021 11:42am

Markets

US oil still targets $64.15-$65.29 range

A doji formed on Thursday. It will only be regarded as a bearish reversal signal if a black candlestick appears on Friday.

Published 26 Feb, 2021 09:58am

Markets

Brent oil still targets $68.07-$68.56 range

A fall to $65.35 could signal the break above $66.29 was false, and a bearish target zone of $59.08-$62.14 will be established then.

Published 26 Feb, 2021 09:55am

Markets

Oil holds close to 13-month high, supported by sharp drop in US output

Fed Chairman Jerome Powell nixes rate hike fears.
US dollar languishes near three-year lows.
Crude prices hit highest level since January 2020.
OPEC+ to meet on March 4, discuss modest output increase.

Published 25 Feb, 2021 09:37pm

Markets

Oil rises after data shows slump in US output amid Texas freeze

• Brent, WTI hit fresh 13-month high • US crude output, refining use slump on Texas storms: EIA • Houston...

Published 25 Feb, 2021 04:58am

Markets

Oil rises despite surprise US stock build weighs

US crude stocks rise 1 mln bbls –API.
Market eyes EIA inventory data due later in the day.
Houston ship channel slowly returning to normal traffic.

Published 24 Feb, 2021 09:39pm

Markets

Brent oil may rise into $66.45-$66.97 range again

On the daily chart, oil failed to break a falling trendline.

Published 24 Feb, 2021 10:14am

Markets

Oil holds near year-long highs as COVID lockdowns seen easing

Brent could hit $70-75 a barrel in third quarter, say banks.
US crude, refined product stocks seen falling last week.
Coming up: US API inventory data at 2130 GMT.

Published 23 Feb, 2021 09:26pm

Markets

US oil may rise into $63.44-$64.15 range

On the daily chart, oil is rising towards the Jan. 8, 2020 high of $65.65.

Published 23 Feb, 2021 11:07am

Markets

Brent oil may extend gains into $66.45-$66.97 range

Based on the drop from $65.52, oil may rise to $69. Support is at $65.15, a break below which could cause a fall to $64.65.

Published 23 Feb, 2021 11:01am

Markets

Oil prices rise with storm-hit US output set for slow return

Brent crude was up 49 cents, or 0.8%, at $63.40 a barrel.
"With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low," ANZ Research said in a note.

Published 22 Feb, 2021 08:02pm

Markets

Oil prices rise with storm-hit US output set for slow return

Brent crude was up 51 cents, or 0.8%, at $63.42 a barrel.
"With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low," ANZ Research said in a note.

Published 22 Feb, 2021 07:17pm

Markets

Brent oil neutral in $62.54-$63.85 range

On the daily chart, oil failed to break a trendline passing through the peaks of the April 25, 2019 high of $75.60 and the Jan. 8, 2020 high of $71.75.

Published 22 Feb, 2021 10:20am

Markets

US oil may test support at $58.13

A retracement analysis reveals an immediate support at $58.13, the 38.2% level, a break below which could open the way towards $56.85. A bounce from the current level may be limited to $59.33.

Published 19 Feb, 2021 11:33am

Markets

Brent oil may fall into $61.74-$62.23 range

Oil may hover below this trendline for a few days or weeks. A retracement analysis marks a support at $63.44, the 7% level, which has been broken.

Published 19 Feb, 2021 11:30am

Markets

Oil and gas production slumps in Texas due to cold snap

Brent crude was up 35 cents, or 0.5%, at $64.69 a barrel.
US West Texas Intermediate (WTI) crude futures gained 48 cents, or 0.8%, to $61.62 a barrel, after earlier rising to $62.26, the highest since Jan. 8, 2020.

Published 18 Feb, 2021 07:26pm

Markets

US oil may test resistance at $62.34

A fall from the current level is expected to end above a support at $61.02. A fall below this level could suggest the current wave count is incorrect. A review will be done then.

Published 18 Feb, 2021 11:14am

Markets

Brent oil may rise into $65.96-$66.45 range

On the daily chart, the uptrend towards the Jan. 8, 2020 high of $71.75 has resumed. A realistic target could be $67.50, the 486.4% projection level of an uptrend from $39.34.

Published 18 Feb, 2021 11:11am

Markets

Oil extends rally on Texas supply disruptions

Texas cold deep freeze shut down oil wells and refineries.
OPEC+ likely to ease curbs on supply after April – sources.

Published 17 Feb, 2021 05:50pm

Markets

Oil steady amid Texas supply disruptions, potential OPEC+ moves

The OPEC+ group will meet to set policy on March 4.

Published 17 Feb, 2021 01:18pm

Markets

US oil may retest support at $59.38

The bottom of the wave (4) at $57.41 will be targeted accordingly.

Published 17 Feb, 2021 12:44pm

Markets

Brent oil may fall into $61.74-62.23 range

Immediate resistance is at $63.04, a break above which could lead to a gain to $63.54. Only a further rise could signal the continuation of the uptrend.

Published 17 Feb, 2021 12:40pm

Markets

Oil prices near 13-month highs, supported by Texas cold snap

Brent, US crude both near 13-month highs.
Texas cold snap shuts down oil wells and refineries.
Middle East supply worries raised due to Yemen conflict.
Norway secures wage deal in dispute at major oil terminal.

Published 16 Feb, 2021 05:56pm

Markets

Brent oil still targets $64.34

The resistance at $63.85 triggered a shallow correction, which seems to have ended around a support at $63.04. The contract is poised to retest $63.85 and rise towards $64.34.

Published 16 Feb, 2021 11:21am

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
Crude Oil USD/Barrel / Apr 19	84.27
Gold Spot USD/Ounce / Apr 19	2382.04
Cotton US¢/pound / Apr 19	80.67
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

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