Trends - Crude Oil - Business Recorder

Crude Oil

Oil falls as US posts surprise rise in crude inventories

Brent crude fell 55 cents, or 1.2%, to $43.77 a barrel by 10:56 EST (1456 GMT). US West Texas Intermediate (WTI) crude dropped 56 cents, or 1.3%, to $41.36.

Published 22 Jul, 2020 09:20pm

Markets

Oil prices slip as US inventories and virus fears grow

Brent crude fell 60 cents, or 1.4pc, to $43.72 a barrel by 0912 GMT. US West Texas Intermediate (WTI) crude dropped 70 cents, or 1.7pc, to $41.22.

Published 22 Jul, 2020 04:20pm

Markets

Oil prices slip as U.S. inventories, virus fears grow

Brent crude fell 35 cents, or 0.8%, to $43.97 a barrel by 0541 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 39 cents, or 0.9%, to $41.53.

Published 22 Jul, 2020 11:05am

Markets

Oil prices up $1/bbl on virus vaccine hopes, EU stimulus deal

EU summit results in 750 bln euro stimulus deal.
Early vaccine data raises hope of economic boost.
US crude, products inventories seen down last week –poll.

Published 22 Jul, 2020 12:52am

World

Iraq PM says won't allow threats to Iran from Iraqi soil

The people of Iraq want good relations with the Islamic Republic of Iran based on the principle of non-interference in the internal affairs of both countries.
Khamenei also said Iran would not interfere in relations between Iraq and the United States, according to his official website.

Published 22 Jul, 2020 12:24am

Markets

Oil prices up at levels last seen in March on vaccine hopes, EU deal

Benchmark Brent crude was up $1.17 cents at $44.45 by 0904 GMT, on track for its biggest daily rise since mid-June at around 2.7pc.

Published 21 Jul, 2020 03:12pm

Markets

Oil steady as vaccine news counters rise in virus cases

Brent futures were up 15 cents, or 0.4%, at $43.43 by 0117 GMT, while West Texas Intermediate (WTI) edged up 2 cents to $40.83.
The closing prices of both Brent and WTI have traded within a $2 channel so far this month.

Published 21 Jul, 2020 10:16am

Markets

Oil steady as virus infections rise but hopes for vaccine lends support

More than 14 million people infected by coronavirus
First human trial of Oxford COVID-19 vaccine shows promise
EU leaders to decide on stimulus plan
Saudi King Salman admitted to hospital

Published 21 Jul, 2020 01:08am

Business & Finance

Chevron to buy Noble for $5bn in stock, biggest oil deal since price crash

The deal diversifies Chevron's energy assets and makes it the first oil major to enter Israel. It "is a tremendous expression of confidence in the Israeli energy market."
the company was "mindful" of tensions between Israel and nearby countries where the company has business including Saudi Arabia, Kuwait, Qatar and the Kurdish region of Iraq.

Published 21 Jul, 2020 12:58am

Markets

BP puts crude oil traders on leave pending investigations into China dealings

BP traders were named in a court document filed by Malaysian lender CIMB where the bank applied to place Hontop Energy under judicial management.

Published 20 Jul, 2020 03:42pm

Markets

Oil falls on worries over fuel demand setback as infections rise

Brent crude was down 36 cents, or 0.8%, at $42.78 a barrel by 0653 GMT, after dropping slightly last week. U.S. oil was off by 34 cents, or 0.8%, at $40.25 a barrel, after gaining 4 cents last week.

Published 20 Jul, 2020 12:30pm

Business & Finance

MPCL discovers gas reserves in Sindh

The company said that the Drill Stem Tests (DSTs) carried out in SUL Formation flowed gas at a rate of 11 MMSCFD at wellhead flow pressure (WHFP) of 887 Psi at 48/64 inch choke size after acid job.

Published 20 Jul, 2020 12:00pm

Business & Finance

Crude shipments resume from Pemex floating oil storage unit after collision

The FPSO facility (floating production, storage and offloading), which has the capacity to store up to 2.2 million barrels of crude, halted loading of vessels for exports after making “contact” with the Olympic Future tanker on July 1 due to bad weather conditions.

Published 18 Jul, 2020 10:03am

Markets

Oil prices broadly stable as stimulus hopes balance virus fears

Surging infection rates stoke demand concerns.
US reports daily record in new coronavirus cases.
OPEC+ to add supplies by easing output curbs.

Published 17 Jul, 2020 09:53pm

Markets

Colombia's Ecopetrol increases 2020 investment despite low prices

Based on a detailed review of the company's portfolio, the progress of interventions and the gradual recovery of economic activity.
The new plan assures the sustainability of the business in an environment of low prices.

Published 17 Jul, 2020 07:13pm

Business & Finance

India's Reliance to shut crude unit for maintenance

Other Refinery units are expected to operate normally during this period, the company.
Reliance has two equal-size crude distillation units at the 704,000 barrel per day (bpd) export-focused refinery.

Published 17 Jul, 2020 07:06pm

Markets

Norway's June crude oil output falls more than expected

Crude oil output fell 12% to 1.54 million barrels per day (bpd) which was 4.1% below the official forecast which corresponded to a production cap of 1.61 million bpd set by the government.
The fields that produced less than the quota set for June can add these volumes to their production quota in the second half of the year.

Published 17 Jul, 2020 06:12pm

Markets

Norway's June crude oil output falls more than expected

Crude oil output fell 12% to 1.54 million barrels per day (bpd) which was 4.1% below the official forecast which corresponded to a production cap of 1.61 million bpd set by the government.
The fields that produced less than the quota set for June can add these volumes to their production quota in the second half of the year.

Published 17 Jul, 2020 06:12pm

Markets

Oil prices slip amid uncertainty about fuel demand, rising output

Surging infection rates stoke demand concerns.
US reports daily record in new coronavirus cases.
OPEC+ to add supplies by easing output curbs.

Published 17 Jul, 2020 06:00pm

Markets

China's Sinopec to invest 5.4bn yuan in gas wells in northwest,

The wells, to be located on the Dingbei gas field near Wuzhong city, will have a combined gas production capacity of 1.8 billion cubic metres (bcm) per year.
Development at Dingbei will turn the poor, landlocked Ningxia region from gas importer to producer.

Published 17 Jul, 2020 05:23pm

Markets

Oil prices slip amid uncertainty over fuel demand, easing supply curbs

Brent crude futures fell 26 cents to $43.11 a barrel by 0822 GMT. U.S. West Texas Intermediate (WTI) crude dropped 23 cents to $40.52.

Published 17 Jul, 2020 02:56pm

Markets

Oil prices steady as clouds gather over fuel demand, looser supply curbs

U.S. West Texas Intermediate (WTI) crude futures rose 1 cent to $40.76 a barrel at 0204 GMT, while Brent crude futures were steady at $43.37 a barrel.

Published 17 Jul, 2020 10:16am

BR Research

Crude oil demand: jittery road to recovery

Covid-19 has had an unprecedented impact on global economy; oil market fundamentals have been shaken to the core in...

Published 17 Jul, 2020 08:26am

Markets

OPEC fears second virus wave to prolong oil inventory overhang

OPEC, Russia and their allies, a group known as OPEC+, said they would ease record oil curbs from Aug. 1 citing a gradual recovery in demand as global lockdowns loosen up.
The group expects oil demand to climb by 7 million barrels per day (bpd) in 2021 after falling 9 million bpd this year.

Published 16 Jul, 2020 05:08pm

Markets

Oil prices ease after OPEC+ agrees to ease output curbs

OPEC+ to ease output cuts to 7.7 mln bpd from Aug.
Economic recovery puts demand above supply –analyst.

Published 16 Jul, 2020 04:54pm

Markets

Oil prices ease after OPEC, allies agree to taper oil supply curbs

Brent crude fell 27 cents, or 0.6%, to $43.52 a barrel by 0439 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 32 cents, or 0.8%, to $40.88 a barrel.

Published 16 Jul, 2020 10:28am

Markets

OPEC+ eases record oil cuts as economy recovers from pandemic

Producers set to ease cuts to 8.54 mln bpd from Aug.
New cuts to include compensations by Iraq and others.
Second virus wave could deepen demand hit.
Oil trades above $40/bbl, US output slowly recovering.

Published 15 Jul, 2020 09:03pm

Markets

Oil climbs on US stock draw but gains capped as OPEC+ set to ease cuts

US crude inventories fall 7.5 mln bbls last week-EIA.
OPEC+ set to ease record oil cuts from August.
Moderna Phase 1 results show coronavirus vaccine safe.

Published 15 Jul, 2020 09:02pm

Markets

Oil steady after Saudi minister signals OPEC+ may reduce cuts

Brent hovers above $43/bbl, WTI holds above $40/bbl.
OPEC+ set to ease record oil cuts from Aug.
US crude inventories fall by 8.3 mln bbls last week-API.

Published 15 Jul, 2020 08:31pm

Business & Finance

Indonesia produces maiden batch of biodiesel made of 100pc palm

This trial shows that our refinery and catalysts are ready. Next, we have to think how to make the economic side work too.
The world's largest palm oil producer - the bio portion of biodiesel is made with fatty acid methyl esters (FAME) from palm oil.

Published 15 Jul, 2020 06:00pm

Gainers
Losers
Leaders

Stock	Price
786 Investments / Sep 23 786 Investments Limited(786)	8.63 ▼ 0.00 (0.00%)
AL- Abbas / Sep 23 Al-Abbas Sugar Mills Limited(AABS)	301.64 ▼ 0.00 (0.00%)
Agro Allianz / Sep 23 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 23 Allied Bank Limited(ABL)	68.88 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 23 Abbott Laboratories (Pakistan) Limited(ABOT)	741.46 ▼ 0.00 (0.00%)
Abson Ind. / Sep 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Sep 23 Attock Cement Pakistan Limited(ACPL)	138.91 ▼ 0.00 (0.00%)
Adam Sugar / Sep 23 Adam Sugar Mills Limited(ADAMS)	33.41 ▼ 0.00 (0.00%)

Stock	Price
786 Investments / Sep 23 786 Investments Limited(786)	8.63 ▼ 0.00 (0.00%)
AL- Abbas / Sep 23 Al-Abbas Sugar Mills Limited(AABS)	301.64 ▼ 0.00 (0.00%)
Agro Allianz / Sep 23 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 23 Allied Bank Limited(ABL)	68.88 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 23 Abbott Laboratories (Pakistan) Limited(ABOT)	741.46 ▼ 0.00 (0.00%)
Abson Ind. / Sep 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Sep 23 Attock Cement Pakistan Limited(ACPL)	138.91 ▼ 0.00 (0.00%)
Adam Sugar / Sep 23 Adam Sugar Mills Limited(ADAMS)	33.41 ▼ 0.00 (0.00%)

Stock	Volume

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 22	168.70
USD PKR Interbank Buying / Sep 22	168.60
USD to Japanese Yen / Sep 22	109.78
USD to Swiss Franc / Sep 22	0.93
Pound Sterling to USD / Sep 22	1.36
Euro to USD / Sep 22	1.17
UK LIBOR % / Sep 22	0.07

Stock	Volume
S&P 500 / Sep 22	4395.64
India Sensex / Sep 22	58927.33
Tokyo Nikkei / Sep 22	29639.40
Nasdaq / Sep 22	14896.85
Hang Seng / Sep 22	24221.54
FTSE 100 / Sep 22	7083.37
Dow Jones / Sep 22	34258.32
Germany DAX 30 / Sep 22	15506.74
France CAC40 / Sep 22	6637.00

Item	Value
Crude Oil / Sep 22	71.98
Karachi Cotton Assoc. / Sep 22	12880.00
Gold 10 Grams / Sep 22	94700.00
Gold Spot / Sep 22	1767.66
Cotton / Sep 22	90.87

Crude Oil

Oil falls as US posts surprise rise in crude inventories

Oil prices slip as US inventories and virus fears grow

Oil prices slip as U.S. inventories, virus fears grow

Oil prices up $1/bbl on virus vaccine hopes, EU stimulus deal

Iraq PM says won't allow threats to Iran from Iraqi soil

Oil prices up at levels last seen in March on vaccine hopes, EU deal

Oil steady as vaccine news counters rise in virus cases

Oil steady as virus infections rise but hopes for vaccine lends support

Chevron to buy Noble for $5bn in stock, biggest oil deal since price crash

BP puts crude oil traders on leave pending investigations into China dealings

Oil falls on worries over fuel demand setback as infections rise

MPCL discovers gas reserves in Sindh

Crude shipments resume from Pemex floating oil storage unit after collision

Oil prices broadly stable as stimulus hopes balance virus fears

Colombia's Ecopetrol increases 2020 investment despite low prices

India's Reliance to shut crude unit for maintenance

Norway's June crude oil output falls more than expected

Norway's June crude oil output falls more than expected

Oil prices slip amid uncertainty about fuel demand, rising output

China's Sinopec to invest 5.4bn yuan in gas wells in northwest,

Oil prices slip amid uncertainty over fuel demand, easing supply curbs

Oil prices steady as clouds gather over fuel demand, looser supply curbs

Crude oil demand: jittery road to recovery

OPEC fears second virus wave to prolong oil inventory overhang

Oil prices ease after OPEC+ agrees to ease output curbs

Oil prices ease after OPEC, allies agree to taper oil supply curbs

OPEC+ eases record oil cuts as economy recovers from pandemic

Oil climbs on US stock draw but gains capped as OPEC+ set to ease cuts

Oil steady after Saudi minister signals OPEC+ may reduce cuts

Indonesia produces maiden batch of biodiesel made of 100pc palm

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