Trends - Brent oil - Business Recorder

Brent oil

Brent oil may rise to $56.21

The failures indicate the formation of a small double-bottom.

Published 25 Jan, 2021 10:22am

Markets

Oil down 2pc as China COVID-19 cases trigger clampdowns

Shanghai reports first locally transmitted cases in 2 months.
Focus on EIA inventory data due Friday.
Vaccine-fueled recovery likely several months away.

Published 22 Jan, 2021 06:05pm

Markets

Asian markets step back from stimulus-driven record highs

The greenback's recent slide has been led by investors ploughing money into higher-yielding currencies on optimism about a rapid economic recovery led by massive US stimulus.

Published 22 Jan, 2021 11:37am

Markets

US oil may revisit Jan. 19 low of $51.76

A projection analysis on the uptrend from $37.06 reveals a support at $52.01, the 261.8% level, which may not hold.

Published 22 Jan, 2021 11:13am

Markets

Brent oil may slide to $55.21

The correction from the Jan. 13 high of $57.42 may have extended.

Published 21 Jan, 2021 08:59am

Markets

US oil may fall into $52.27-$52.59 range

A sudden break above $54.19 could confirm the continuation of the uptrend towards the range of $56.37-$57.72.

Published 21 Jan, 2021 08:52am

Markets

Brent oil may gain more to $56.65

A break above $56.65 could signal the resumption of the uptrend, while a failure could be followed by a drop towards the Jan. 18 low of $54.49.

Published 20 Jan, 2021 12:14pm

Markets

Brent oil may test resistance at $55.21

A break below $54.39 could cause a fall to $53.88. On the daily chart, market seems to be indecisive around a support at $54.50, the 261.8% projection level of an uptrend from $39.34.

Published 19 Jan, 2021 11:32am

Markets

US oil may retest resistance at $52.54

On the daily chart, oil is trying to hover around $52.01, the 261.8% projection level of the uptrend from $37.06. It may bounce towards $52.84.

Published 19 Jan, 2021 11:08am

Markets

Oil falls on coronavirus fears, strong dollar

China's economy picked up in fourth quarter.
Libyan oil output cut by 200,000 bpd.
Stronger dollar weighs on prices.

Published 18 Jan, 2021 07:00pm

Markets

Oil mixed as Chinese data offsets coronavirus fears

China's economy picked up in fourth quarter.
Libyan oil output cut by 200,000 bpd.
Stronger dollar weighs on prices.

Published 18 Jan, 2021 04:44pm

Markets

Brent oil may slide more to $54.07

Resistance is at $55.21, a break above could lead to a gain into $55.58-$56.17 range.

Published 18 Jan, 2021 12:02pm

Markets

Oil falls as China lockdown, US unemployment data temper gains

Brent was down 83 cents, or 1.5%, at $55.59.
US West Texas Intermediate crude was down 57 cents, or 1.1%, at $53 a barrel.

Published 15 Jan, 2021 07:51pm

Markets

Brent oil may revisit Jan 13 high of $57.42

On the daily chart, the correction is classified as a pullback towards a former resistance at $54.62, now a support. The pullback may have completed.

Published 15 Jan, 2021 11:44am

Markets

Oil prices ease as pandemic overshadows Chinese and US data

US crude stockpiles drop, fuel inventories build –EIA.
Oil market outlook clouded by vaccine rollout variables –IEA.
China reports most new COVID-19 cases in more than 10 months.

Published 14 Jan, 2021 09:44pm

Markets

Oil prices ease as pandemic outweighs Chinese and US data

US crude stockpiles drop, fuel inventories build –EIA.
Oil market outlook clouded by vaccine rollout variables –IEA.
China reports most new COVID-19 cases in more than 10 months.

Published 14 Jan, 2021 07:10pm

Markets

Brent oil may fall into $55.21-$55.58 range

On the daily chart, the correction is classified as a pullback towards a former resistance at $54.62, now a support. Wave pattern suggests the progress of a powerful wave C, which is capable of travelling to $66.29, its 100% projection level.

Published 14 Jan, 2021 12:08pm

Markets

Brent oil may extend gains into $57.76-$58.17 range

Indeed, after travelling above a pivotal level of $54.62, this wave is highly likely to extend to $66.29.

Published 13 Jan, 2021 10:59am

Markets

Oil hits 11-month high just below $57 as Saudi cut supports

Saudi plans to cut extra 1 million bpd in Feb and March
US crude stockpiles expected to drop for fifth week

Published 12 Jan, 2021 06:46pm

Markets

Oil hits 11-month high towards $57 as Saudi cut supports

Saudi plans to cut extra 1 million bpd in Feb and March.
US crude stockpiles expected to drop for fifth week.
Coming up: API oil supply report, 2130 GMT.

Published 12 Jan, 2021 05:50pm

Markets

Goldman expects Brent oil prices to reach $65/bbl in summer 2021

The Wall Street investment bank had previously predicted oil would hit $65 by year-end.
Brent crude fell as much as $1 per barrel on Monday, to trade around $55. Oil prices shed about 20% in 2020.

Published 11 Jan, 2021 08:17pm

Markets

Oil falls on renewed lockdowns, stronger dollar

China's Hebei sees most COVID-19 cases since July
Most of Europe now under the strictest curbs
Dollar gains on US stimulus hopes.

Published 11 Jan, 2021 05:41pm

Markets

Brent oil may extend gains to $59.08

Most likely, the correction will end in a support zone of $54.66-$55.25, formed by the 100% and the 114.6% levels.

Published 11 Jan, 2021 11:48am

Markets

Oil set for weekly gain on Saudi output cut pledge

Brent, WTI set for weekly gains of more than 6%.
Rally in global equities also feeds appetite for risk.
Latest global lockdowns delay fuel demand recovery.

Published 08 Jan, 2021 07:23pm

Markets

Oil set for weekly gain on Saudi output cut pledge

Brent, WTI set for weekly gains of about 6%.
Rally in global equities also feeds appetite for risk.
Latest global lockdowns delay fuel demand recovery.

Published 08 Jan, 2021 05:53pm

Markets

OPEC December oil output rises for sixth month led by Libya: survey

OPEC December output rises 280,000 bpd from November.
Compliance to OPEC+ cut pledges weakens to 99%, lowest since Aug.
UAE posts largest output rise among quota-bound members.

Published 06 Jan, 2021 08:53pm

Markets

Oil extends gains after surprise Saudi output cut

Saudi move 'reflects signs of weakening demand' -Goldman Sachs.
OPEC output rises in December - Reuters survey.
US crude inventories fell 1.7 mln bbl in week to Jan. 1 –API.
US EIA inventory data due at 1530 GMT.

Published 06 Jan, 2021 08:35pm

Markets

Oil extends gains after surprise Saudi output cut

Saudi move 'reflects signs of weakening demand' -Goldman Sachs.
US crude inventories fell 1.7 mln bbl in week to Jan. 1 –API.

Published 06 Jan, 2021 05:06pm

Markets

Oil prices up $1 on OPEC output cut talks, Iran tension

OPEC+ to resume talks on February output on Tuesday.
Iran seizes S. Korean-flagged chemical tanker.
UK to begin tougher lockdowns, chilling demand.

Published 05 Jan, 2021 07:18pm

Markets

Oil prices tick up on OPEC studying output cut, Iran tensions

OPEC+ to resume talks on February output on Tuesday.
Iran seizes S. Korean-flagged chemical tanker.

Published 05 Jan, 2021 05:38pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 24	278.50
USD PKR Interbank Buying / Apr 24	278.25
USD to Japanese Yen / Apr 24	154.89
USD to Swiss Franc / Apr 24	0.91
Pound Sterling to USD / Apr 24	1.24
Euro to USD / Apr 24	1.07

Stock	Volume
S&P 500 / Apr 23	5070.55
Nasdaq / Apr 23	15696.64
Dow Jones / Apr 23	38503.69
India Sensex / Apr 24	73884
Tokyo Nikkei / Apr 24	38460.08
Hang Seng / Apr 24	17176.31
FTSE 100 / Apr 24	8079.79
Germany DAX 30 / Apr 24	18202.76

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 23	21035
Gold 10 Grams PKR / Apr 23	213220
Petrol/Litre / Apr 24	293.94
Crude Oil USD/Barrel / Apr 24	83.46
Gold Spot USD/Ounce / Apr 24	2319
Diesel/Litre / Apr 24	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 24 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 24 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 24 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 24 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 24 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 24 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 24 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 24 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 24 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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