Trends - Crude Oil - Business Recorder

Markets

Oil prices hit $120 as Saudi July price rise eclipses OPEC+ deal

LONDON: Oil prices hit $120 a barrel on Monday after Saudi Arabia raised crude prices for July and amid doubts that...

Updated 06 Jun, 2022 02:41pm

Markets

Saudi Arabia may raise July crude oil prices for Asia

SINGAPORE: Top oil exporter Saudi Arabia may raise prices of all grades of crude it sells to Asia in July following...

Published 06 Jun, 2022 09:38am

Markets

Asia’s gasoline margin climbs

SINGAPORE: Asia’s gasoline crack rose on Friday and posted a weekly gain of over 13%, buoyed by growing demand as...

Published 05 Jun, 2022 05:54am

Markets

Oil edges higher as supply still seen tight after OPEC+ hike

LONDON: Oil edged higher on Friday, supported by expectations that OPEC's decision to increase production targets by...

Updated 03 Jun, 2022 07:33pm

Markets

Oil prices fall on prospect of OPEC offsetting Russian output loss

LONDON: Oil prices fell on Thursday on speculation that Saudi Arabia and other OPEC members may boost crude output...

Updated 02 Jun, 2022 03:51pm

Markets

PMEX daily trading report

KARACHI: On Tuesday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 16.814...

Published 02 Jun, 2022 06:19am

Markets

Brent oil may edge up to $117.78

SINGAPORE: Brent oil may edge up to a resistance at $117.78 per barrel, a break above could lead to a gain to...

Published 01 Jun, 2022 10:03am

Markets

Oil firms on EU's Russian oil ban and end of Shanghai lockdown

LONDON: Oil prices firmed on Wednesday after European Union leaders agreed to a partial and phased ban on Russian ...

Updated 01 Jun, 2022 08:15pm

Markets

Brent oil may retest resistance at $122.38

SINGAPORE: Brent oil may retest a resistance at $122.38 per barrel, a break above could lead to a gain to...

Published 31 May, 2022 10:11am

Markets

Oil extends bull run as EU agrees to ban most Russian oil

HOUSTON: Oil prices extended a bull run on Tuesday after the European Union agreed to a partial and phased ban on...

Updated 31 May, 2022 09:28pm

Markets

India's imports of cheap Russian crude surge since Ukraine invasion

NEW DELHI: India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24,...

Published 30 May, 2022 06:41pm

Markets

Saudi Arabia may raise July crude oil prices for Asia

SINGAPORE: Top oil exporter Saudi Arabia may raise prices of all grades of crude it sells to Asia in July following...

Published 30 May, 2022 05:39pm

Markets

Russian oil output slightly up at 10.17mn bpd, TASS reports

Russia raised oil production slightly to 10.17 million barrels per day (bpd) between May 1 and 29, TASS news agency...

Published 30 May, 2022 05:20pm

Markets

Oil above $120 a barrel as EU meets on Russia sanctions

Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months as traders priced in...

Updated 30 May, 2022 09:42pm

Markets

Cash-strapped Sri Lanka gets Russian oil to ease shortages

COLOMBO: Cash-strapped Sri Lanka took delivery Saturday of Russian oil -- which could soon be subject to a European...

Published 28 May, 2022 09:06pm

Markets

Bankrupt Sri Lanka takes Russia oil as fuel crisis persists

KARACHI: Sri Lanka is receiving Russian crude oil that it will use to make fuel as the bankrupt nation faces...

Published 28 May, 2022 05:11am

Markets

Oil prices increase supported by the prospect of a tight market

HOUSTON: Oil prices rose on Friday, as signs of a tight market supported prices ahead of the U.S. Memorial Day...

Updated 27 May, 2022 10:21pm

Markets

Brent oil may rise to $120.34

SINGAPORE: Brent oil may break a resistance at $118.30 per barrel, and rise to $120.34. The contract is riding on a...

Published 27 May, 2022 10:35am

Markets

Oil jumps 3% to 2-month high as EU seeks to ban Russian crude

NEW YORK: Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer...

Updated 26 May, 2022 10:18pm

Markets

U.S. crude stocks down, refining activity surges: EIA

U.S. crude stocks fell modestly in the most recent week, the government said on Wednesday, as refiners picked up the...

Published 25 May, 2022 08:37pm

Markets

Oil edges higher on tight supply, surge in U.S. refining activity

NEW YORK: Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to...

Updated 25 May, 2022 08:39pm

Markets

Oil rises as tight supply counters economy fears and China curbs

LONDON: Oil edged higher on Tuesday, recovering earlier losses, as tight global supply and an expected pick-up in...

Updated 24 May, 2022 07:12pm

Business & Finance

Indus Motor to launch its first locally-assembled HEV SUV next year

KARACHI: Indus Motor Company (IMC) is planning to launch its first locally-assembled Hybrid Electric Vehicle (HEV)...

Updated 24 May, 2022 09:32pm

Markets

Brent oil poised to rise into $114.33-$115.69 range

SINGAPORE: Brent oil is poised to break a resistance at $113.33 per barrel, and rise into $114.33-$115.69 range. Oil...

Published 23 May, 2022 10:46am

Markets

Oil dips as recession worries outweigh rising demand forecast

HOUSTON: Oil prices edged slightly lower on Monday, as worries of a possible recession outweighed an outlook for...

Updated 23 May, 2022 08:19pm

Markets

Oil steadies as economic growth worries counter supply risks

NEW YORK: Oil prices steadied on Friday, setting them on course for little change on the week, as a planned European...

Updated 20 May, 2022 09:22pm

Markets

ADNOC announces three new oil discoveries

Abu Dhabi National Oil Company (ADNOC) on Thursday announced three oil discoveries including one at Bu Hasa, Abu...

Published 19 May, 2022 09:44pm

Markets

Oil prices recoup losses on renewed supply worries, dollar weakness

NEW YORK: Oil prices rebounded from earlier losses on Thursday as Chinese officials planned to ease restrictions in...

Updated 19 May, 2022 09:38pm

Markets

Oil falls 2% as US refiners ramp up output, equities retreat

HOUSTON: Oil prices reversed course and fell over 2% on Wednesday after government data showed U.S. refiners ramped...

Updated 18 May, 2022 09:47pm

Markets

Oil rises to 7-week high on EU’s Russian oil ban effort, demand hopes

NEW YORK: Oil prices rose to over $115 a barrel on Tuesday, their highest in about seven weeks, supported by the...

Updated 17 May, 2022 09:38pm