Trends - Crude Oil - Business Recorder

Crude Oil

US oil may fall into $69.96-$70.60 range

It is not very clear how deep the correction will be. Most likely it is extending towards $68.99, near the bottom of a wave (4).

Published 17 Jun, 2021 10:52am

Markets

Brent oil may retreat into $72.08-72.71 zone

A projection analysis suggests a target of $70.75, which will be available when the target zone on the hourly chart is reached.

Published 17 Jun, 2021 10:49am

Markets

PMEX daily trading report

KARACHI: On Tuesday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 11.179...

Published 17 Jun, 2021 03:27am

Markets

Oil hits new high near $75 on demand rise, falling inventories

Brent hits $74.73, highest since April 2019.
API says US crude stocks drop 8.5 million barrels – sources.
Coming Up: EIA supply report, 1430 GMT.

Published 16 Jun, 2021 05:03pm

Markets

Brent oil may test resistance zone of $74.47-$74.54

Signals on the hourly chart suggest a pullback towards this former resistance or a consolidation around it.

Published 16 Jun, 2021 11:04am

Markets

PMEX daily trading report

KARACHI: On Monday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 10.931...

Published 16 Jun, 2021 03:39am

Markets

Oil trades at multi-year highs on demand expectations

Vitol CEO sees oil price around $70-$80/bbl this year.
Trafigura CEO says good chance oil gets to $100/bbl.
POLL-US crude inventories seen falling for 4th week in a row.
Coming Up: API data on US crude stocks at 4:30 p.m. ET.

Published 15 Jun, 2021 09:01pm

Markets

Oil trades at multi-year highs on demand expectations

Brent crude rose 78 cents, or 1.1%, at $73.64 a barrel.
We have had those stock draws for a couple months, the market is heading in the right direction.

Published 15 Jun, 2021 07:38pm

Markets

Oil rises on optimism about demand outlook

Brent crude was up by 52 cents, or 0.7%, at $73.38 a barrel.
We have had those stock draws for a couple months, the market is heading in the right direction ... my impression it is not a super cycle.

Published 15 Jun, 2021 05:34pm

Markets

Oil prices rise as demand improves, supplies tighten

Brent was up 53 cents, or 0.7%, at $73.22 a barrel.
US West Texas Intermediate gained 44 cents, or 0.6%, to $71.35 a barrel, its highest since October 2018.

Published 14 Jun, 2021 05:14pm

BR Research

PL target borders on the impossible

Crude oil averaged $66/bbl in the second half of FY21. The Petroleum Levy averaged Rs14/ltr during that period. The...

Published 14 Jun, 2021 07:25am

17pc GST hike on crude oil import proposed

ISLAMABAD: The federal government has proposed to raise the rate of GST on import of crude oil by 17 percent in a ...

Published 13 Jun, 2021 03:56am

Markets

Oil rises to fresh multi-year highs on demand recovery

Brent crude futures edged up 13 cents to $72.65 a barrel.
"In 2022 there is scope for the 24-member OPEC+ group, led by Saudi Arabia and Russia, to ramp up crude supply by 1.4 million barrels per day (bpd) above its July 2021-March 2022 target," the IEA said.

Published 11 Jun, 2021 06:40pm

Markets

US oil may rise to $71.28

It is extending towards $75, as indicated by a bullish triangle.

Published 11 Jun, 2021 11:19am

Markets

July-March 2021: Country witnesses decline in gas, crude oil production

ISLAMABAD: Pakistan Economic Survey 2020-21 revealed that the country witnessed a decline in indigenous natural gas...

Published 11 Jun, 2021 03:41am

Markets

PMEX daily trading report

KARACHI: On Wednesday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 10.706...

Published 11 Jun, 2021 03:41am

Markets

Oil prices boosted by rising US inflation

US crude stocks down, fuel inventories rise – EIA.
Libya to ramp up output after fixing pipeline leak – source.
India's May fuel demand hits 9-month low.

Published 10 Jun, 2021 08:31pm

Markets

Oil prices rebound after knock from US driving season data

US crude stocks down, fuel inventories rise – EIA.
Libya to ramp up output after fixing pipeline leak – source.
India's May fuel demand hits 9-month low.
Upcoming: US jobless claims, inflation data, OPEC monthly report.

Published 10 Jun, 2021 06:25pm

Markets

Brent oil may seek support in $71.38-$71.62 zone

Oil may take some time to fulfil these targets, as its rise is rather slow. Volatility may keep low over the next few weeks as well.

Published 10 Jun, 2021 11:18am

Markets

US crude stocks down, fuel inventories rise: EIA

Crude inventories fell by 5.2 million barrels in the week to June 4 to 474 million barrels.
Futures pared gains after the report. US crude was up 28 cents to $70.33 a barrel.

Published 09 Jun, 2021 08:35pm

Markets

Brent oil benchmark hits 2-year high, WTI highest since 2018

Top US diplomat sees hundreds of sanctions on Iran to remain.
API shows drawdown in US crude stocks; EIA data due later Wed.
Oil demand expected to grow in H2 as lockdowns ease.

Published 09 Jun, 2021 06:28pm

Markets

PMEX daily trading report

KARACHI: On Monday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 11.521...

Published 09 Jun, 2021 03:29am

Markets

Oil prices retreat but outlook remains positive

As oil is priced in dollars, a stronger greenback makes crude more expensive for buyers with other currencies.
China's crude imports were down 14.6% in May on a yearly basis also weighed on prices.

Published 08 Jun, 2021 09:02pm

Markets

Oil prices dip on profit-taking

• US crude touches $70/bbl for first time since October 2018 • Brent hits $72.27, highest since May 2019 •...

Published 08 Jun, 2021 04:09am

Markets

Oil eases on Iran concern after hitting two-year high above $72

US crude touches $70 for first time since October 2018.
Brent hits $72.27, highest since May 2019.
Iran, world powers to resume talks on June 10.

Published 07 Jun, 2021 06:12pm

Markets

Oil eases as investors await Iran nuclear talks this week

Analysts expect Iran, which is having its presidential election on June 18, to increase its production by 500,000 to 1 million barrels per day once sanctions are lifted.

Published 07 Jun, 2021 11:52am

Markets

US oil may rise to $71.28

A projection analysis reveals a higher target zone of $79.68-$84.47.

Published 07 Jun, 2021 11:44am

Opinion

Venezuelan oil, masked as Malaysian, rushes into China before fuel tax

Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China,...

Published 05 Jun, 2021 04:08am

Markets

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 4, 2021)....

Published 05 Jun, 2021 04:08am

Markets

PMEX daily trading report

KARACHI: On Thursday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 16.710...

Published 05 Jun, 2021 04:08am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	156.17
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 25	5048.42
Nasdaq / Apr 25	15611.76
Dow Jones / Apr 25	38085.80
India Sensex / Apr 26	74171.68
Tokyo Nikkei / Apr 26	37934.72
Hang Seng / Apr 26	17626.75
FTSE 100 / Apr 26	8123.98
Germany DAX 30 / Apr 26	18016.27

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 25	20535
Gold 10 Grams PKR / Apr 25	240900
Petrol/Litre / Apr 26	293.94
Crude Oil USD/Barrel / Apr 26	83.89
Gold Spot USD/Ounce / Apr 26	2336.33
Diesel/Litre / Apr 26	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 26 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 26 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 26 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 26 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 26 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 26 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 26 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 26 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 26 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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