Trends - Crude Oil - Business Recorder

Crude Oil

Hydrocarbon reserves discovered in Kohat

The well has tested 3,240 barrels per day of condensate, 16.12 MMscf per day of gas, and 48 barrels per day of water.

Updated 17 Jul, 2020 03:57pm

Markets

Oil prices drop on demand recovery fears, OPEC+ easing expectations

U.S. West Texas Intermediate (WTI) crude futures slid 96 cents, or 2.39%, to $39.14 a barrel by 0443 GMT, while Brent crude futures fell 88 cents, or 2.06% to $41.84.

Published 14 Jul, 2020 11:21am

Markets

OPEC chief sees oil market moving closer to balance before key meeting

OPEC+ panel meets Wednesday to review supply cut.
Producers not expected to extend supply cuts at same level.
Saudi oil exports in Aug to stay at July level.

Published 13 Jul, 2020 08:42pm

Markets

Saudi oil exports in Aug to stay at July level –sources

Saudi Arabia often burns more oil - estimated at about 550,000 barrels per day (bpd) - during the hot summer months for power generation.
This summer the demand for oil burning is set to rise more than last year due to COVID-19 movement restrictions which have forced millions of people to stay home.

Published 13 Jul, 2020 06:26pm

Markets

Oil dips on surge in COVID-19 infections

OPEC JMMC meets this week to decide on supply cuts.
WHO reports record daily rise in new COVID-19 cases.
Libya re-imposes force majeure on oil exports.

Published 13 Jul, 2020 06:08pm

Business & Finance

Oil slips as traders eye supply cut easing at OPEC meeting

Brent crude fell 27 cents to $42.97 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $40.27 a barrel, down 28 cents.

Published 13 Jul, 2020 10:08am

Markets

Ukraine sunoil exports rise 10pc to 5.7mn tonne so far 2019/20

Ukraine exported 588,200 tonnes of the commodity in June, the consultancy said in a report.
APK-Inform has forecast Ukraine will produce 6.7 million tonnes of sunoil in the 2019/20 season and may increase output to nearly 6.9 million tonnes in 2020/21 .

Published 11 Jul, 2020 08:47pm

Markets

Ukraine sunoil exports rise 10pc to 5.7mn tonne so far 2019/20

Ukraine exported 588,200 tonnes of the commodity in June, the consultancy said in a report.
APK-Inform has forecast Ukraine will produce 6.7 million tonnes of sunoil in the 2019/20 season and may increase output to nearly 6.9 million tonnes in 2020/21 .

Published 11 Jul, 2020 08:47pm

Markets

Russian rouble pares losses, firming on oil price recovery

Brent crude oil, a global benchmark for Russia's main export, was up 1.1% at $42.82 a barrel.
It's all about COVID-19 - both fears and hopes," said BCS Global Markets, noting that Brent was susceptible to the mix of positive and negative headlines.

Published 10 Jul, 2020 08:54pm

Markets

Libya lifts exports force majeure but says output recovery to be slow

The increase in production will take a long time due to the significant damage to reservoirs and infrastructure caused by the illegal blockade imposed on January 17.
Our infrastructure has suffered lasting damage, and our focus now must be on maintenance and securing a budget for the work to be done,

Published 10 Jul, 2020 06:02pm

Markets

Oil falls on resurgence of virus cases, oversupply

Brent, US oil heading for weekly declines.
US COVID-19 cases hit new record.
IEA raises 2020 oil demand forecast.

Published 10 Jul, 2020 05:24pm

Markets

Oil steady as coronavirus fears offset gasoline recovery signs

Mixed evidence on gasoline demand revival.
Concerns over record surge in US COVID-19 cases.
OPEC+ monitoring panel meets next week.

Published 09 Jul, 2020 05:27pm

Markets

Oil eases as coronavirus fears offset gasoline recovery signs

U.S. West Texas Intermediate (WTI) crude futures fell 14 cents, or 0.3%, to $40.76 a barrel by 0229 GMT, after rising 0.7% on Wednesday.
Brent crude futures slipped 7 cents, or 0.2%, to $43.22, after gaining 0.5% on Wednesday.

Updated 09 Jul, 2020 11:48am

Markets

Middle East crude benchmarks mixed

SINGAPORE: Middle East crude benchmarks Oman and Dubai were mixed on Wednesday, as traders continued to wait for the...

Published 09 Jul, 2020 02:43am

Markets

Libya lifts Es Sider force majeure, paving way for oil export boost

As part of the continuing review of the force majeure situation, we have recently received a formal security assessment concerning Es Sider Terminal.
The Delta Ocean Suezmax tanker arrived at the port on July 5, according to Refinitiv Eikon data, and was chartered by trader Unipec.

Published 08 Jul, 2020 06:07pm

Markets

Libya lifts Es Sider force majeure, paving way for oil export boost

As part of the continuing review of the force majeure situation, we have recently received a formal security assessment concerning Es Sider Terminal.
The Delta Ocean Suezmax tanker arrived at the port on July 5, according to Refinitiv Eikon data, and was chartered by trader Unipec.

Published 08 Jul, 2020 06:07pm

Markets

Oil stable as rising virus cases, higher US crude stockpiles stall recovery

US crude stockpiles rise - API
US crude output to fall less than expected in 2020 -EIA
ADNOC plans to boost oil exports in August – sources

Published 08 Jul, 2020 05:45pm

Markets

Oil edges lower as U.S. inventory build stokes supply fears

Brent crude futures fell 10 cents, or 0.2%, to $42.98 a barrel by 0417 GMT.
U.S. West Texas Intermediate (WTI) crude futures dropped 12 cents, or 0.3%, to $40.50 a barrel, holding to the narrow range of the past few weeks.

Published 08 Jul, 2020 10:52am

Business & Finance

Libya's NOC says oil blockade to halve oil output in coming years

NOC said in a statement on its website that production would be cut in half by 2022 "in the absence of an immediate restart of oil production.
The bank said it had allocated 1.2 billion dinars to NOC as "an exceptional budget" item, as well as $1.55 billion to cover fuel subsidies and expenses.

Published 07 Jul, 2020 09:54pm

Business & Finance

Libya's NOC says oil blockade to halve oil output in coming years

NOC said in a statement on its website that production would be cut in half by 2022 "in the absence of an immediate restart of oil production.
The bank said it had allocated 1.2 billion dinars to NOC as "an exceptional budget" item, as well as $1.55 billion to cover fuel subsidies and expenses.

Published 07 Jul, 2020 09:54pm

Business & Finance

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease

The cuts are due to taper to 7.7 million bpd until December although a final decision has yet to be taken. Key OPEC+ ministers hold talks next week.
ADNOC has notified its customers of its plans to cut crude oil nominations for August by 5% for all grades in line with OPEC+ pact to reduce oil supplies.

Published 07 Jul, 2020 09:29pm

Business & Finance

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease

The cuts are due to taper to 7.7 million bpd until December although a final decision has yet to be taken. Key OPEC+ ministers hold talks next week.
ADNOC has notified its customers of its plans to cut crude oil nominations for August by 5% for all grades in line with OPEC+ pact to reduce oil supplies.

Published 07 Jul, 2020 09:29pm

Markets

Oil down as US virus spike stokes demand worries

Rising new virus cases cast doubts on fuel demand recovery
Rise in Saudi OSPs could weigh on refining margins

Published 07 Jul, 2020 07:17pm

Markets

Palm ends lower on weaker crude prices, higher-than-expected output

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange settled down 32 ringgit, or 1.34%, at 2,359 ringgit a tonne.
Lower crude oil makes palm a less attractive option for biodiesel feedstock.

Published 07 Jul, 2020 06:05pm

World

Despite downturn, Saudi Arabia pursues goal of doubling size of capital city

Fahd Al-Rasheed, president of Riyadh's royal commission, said the government has already committed some $266.6 billion for ongoing.
new projects as part of total investments of some $800 billion over the next 10 years in participation with the private sector to transform the city.

Published 07 Jul, 2020 05:32pm

Markets

Angola agrees to comply fully with oil cuts after OPEC pressure

The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as OPEC+.
The record cuts are now due to run to the end of July, before tapering to 7.7 million bpd until December.

Published 07 Jul, 2020 05:27pm

Markets

Oil prices fall on demand concerns from U.S. coronavirus case surge

U.S. West Texas Intermediate (WTI) crude futures fell 17 cents, or 0.4%, to $40.46 a barrel at 0340 GMT, after earlier rising to as high as $40.79.
Brent crude futures declined by 19 cents, or 0.4%, to $42.91, after hitting an intraday high of $43.19.

Published 07 Jul, 2020 10:58am

Markets

Oil prices mixed as coronavirus spike casts shadow over U.S. demand

Brent crude rose 18 cents, or 0.4%, to $42.98 a barrel by 0252 GMT after a 4.3% gain last week.
U.S. West Texas Intermediate crude was at $40.42, down 23 cents, or 0.6%, from its previous settlement on Thursday.

Updated 06 Jul, 2020 01:56pm

Markets

Oil falls below $43 on virus fears, still heads for weekly gain

Brent heading for more than 5% weekly gain.
US reports 55,000 COVID-19 cases in single day.
OPEC, Russia oil output cuts support prices.
China's services sector grows at rapid pace in June.

Published 03 Jul, 2020 07:36pm

Markets

Palm oil reverses early gains as crude oil falls

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 0.13% to 2,359 ringgit ($550.53) a tonne.
Oil fell below $43 a barrel as a resurgence of coronavirus cases raised concerns that fuel demand growth could stall.

Published 03 Jul, 2020 05:21pm

Gainers
Losers
Leaders

Stock	Price
First IBL Mod. / Sep 21 First IBL Modaraba(FIBLM)	4.45 ▲ 1.00 (28.99%)
SME Leasing Ltd. / Sep 21 SME Leasing Limited(SLL)	3.69 ▲ 0.39 (11.82%)
Macter Int. Ltd. / Sep 21 Macter International Limited(MACTER)	143.34 ▲ 10.00 (7.50%)
Suraj Cotton / Sep 21 Suraj Cotton Mills Limited(SURC)	247.25 ▲ 17.25 (7.50%)
Al-Mali / Sep 21 Modaraba Al-Mali(MODAM)	22.69 ▲ 1.58 (7.48%)
Kohat Tex. / Sep 21 Kohat Textile Mills Limited(KOHTM)	21.60 ▲ 1.50 (7.46%)
Din Tex. / Sep 21 Din Textile Mills Limited(DINT)	159.00 ▲ 11.00 (7.43%)
MCB Bank / Sep 21 MCB Bank Limited(MCB)	166.99 ▲ 11.48 (7.38%)
Habib Metro Mod / Sep 21 Habib Metro Modaraba(HMM)	9.44 ▲ 0.64 (7.27%)
Dadex Eternit / Sep 21 Dadex Eternit Limited(DADX)	98.00 ▲ 6.40 (6.99%)

Stock	Price
Husein Sugar (R) / Sep 21 Husein Sugar Mills Limited (R)(HSMR3)	1.30 ▲ -0.79 (-37.80%)
First Elite Cap. Mod. / Sep 21 First Elite Capital Modaraba(FECM)	3.93 ▲ -0.49 (-11.09%)
United Ins. / Sep 21 The United Insurance Company(UNIC)	7.38 ▲ -0.81 (-9.89%)
B. F. Mod. / Sep 21 B.F. Modaraba(BFMOD)	9.78 ▲ -1.00 (-9.28%)
S.G. Power Ltd. / Sep 21 S.G. Power Limited(SGPL)	3.69 ▲ -0.36 (-8.89%)
Hala Enterpries / Sep 21 Hala Enterprises Limited(HAEL)	9.98 ▲ -0.92 (-8.44%)
Zephyr Tex / Sep 21 Zephyr Textiles Limited(ZTL)	18.50 ▲ -1.50 (-7.50%)
Bolan Castings / Sep 21 Bolan Castings Limited(BCL)	128.49 ▲ -10.41 (-7.49%)
Khairpur / Sep 21 Khairpur Sugar Mills Limited(KPUS)	54.58 ▲ -4.42 (-7.49%)
Nagina Cot. / Sep 21 Nagina Cotton Mills Limited(NAGC)	75.82 ▲ -6.13 (-7.48%)

Stock	Volume
Telecard Ltd. / Sep 21 Telecard Limited(TELE)	19,634,500 ▼ 0.00
Worldcall / Sep 21 Worldcall Telecom Limited(WTL)	13,353,000 ▼ 0.00
Byco Petroleum / Sep 21 Byco Petroleum Pakistan Limited(BYCO)	11,308,000 ▼ 0.00
TRG Pakistan / Sep 21 TRG Pakistan Limited(TRG)	9,837,075 ▼ 0.00
TPL Properties / Sep 21 TPL Properties Limited(TPLP)	9,529,000 ▼ 0.00
TPL Corp / Sep 21 TPL Corp Limited(TPL)	7,803,500 ▼ 0.00
K-Electric Ltd / Sep 21 K-Electric Limited(KEL)	5,133,500 ▼ 0.00
Ghani Global Hold. / Sep 21 Ghani Global Holdings Limited(GGL)	4,810,500 ▼ 0.00
Bank of Punjab / Sep 21 The Bank of Punjab(BOP)	4,381,000 ▼ 0.00
Hum Network / Sep 21 Hum Network Limited(HUMNL)	4,193,000 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 18	168.25
USD PKR Interbank Buying / Sep 18	168.15
USD to Japanese Yen / Sep 18	109.93
USD to Swiss Franc / Sep 18	0.93
Pound Sterling to USD / Sep 18	1.37
Euro to USD / Sep 18	1.17
UK LIBOR % / Sep 18	0.07

Stock	Volume
S&P 500 / Sep 18	4432.99
India Sensex / Sep 18	59051.89
Tokyo Nikkei / Sep 18	30500.05
Nasdaq / Sep 18	15043.97
Hang Seng / Sep 18	24920.76
FTSE 100 / Sep 18	6963.64
Dow Jones / Sep 18	34584.88
Germany DAX 30 / Sep 18	15490.17
France CAC40 / Sep 18	6570.19

Item	Value
Crude Oil / Sep 18	71.97
Karachi Cotton Assoc. / Sep 18	13430.00
Gold 10 Grams / Sep 18	97600.00
Gold Spot / Sep 18	1754.34
Cotton / Sep 18	92.33

Crude Oil

Hydrocarbon reserves discovered in Kohat

Oil prices drop on demand recovery fears, OPEC+ easing expectations

OPEC chief sees oil market moving closer to balance before key meeting

Saudi oil exports in Aug to stay at July level –sources

Oil dips on surge in COVID-19 infections

Oil slips as traders eye supply cut easing at OPEC meeting

Ukraine sunoil exports rise 10pc to 5.7mn tonne so far 2019/20

Ukraine sunoil exports rise 10pc to 5.7mn tonne so far 2019/20

Russian rouble pares losses, firming on oil price recovery

Libya lifts exports force majeure but says output recovery to be slow

Oil falls on resurgence of virus cases, oversupply

Oil steady as coronavirus fears offset gasoline recovery signs

Oil eases as coronavirus fears offset gasoline recovery signs

Middle East crude benchmarks mixed

Libya lifts Es Sider force majeure, paving way for oil export boost

Libya lifts Es Sider force majeure, paving way for oil export boost

Oil stable as rising virus cases, higher US crude stockpiles stall recovery

Oil edges lower as U.S. inventory build stokes supply fears

Libya's NOC says oil blockade to halve oil output in coming years

Libya's NOC says oil blockade to halve oil output in coming years

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease

UAE's ADNOC to boost August oil exports as OPEC+ cuts set to ease

Oil down as US virus spike stokes demand worries

Palm ends lower on weaker crude prices, higher-than-expected output

Despite downturn, Saudi Arabia pursues goal of doubling size of capital city

Angola agrees to comply fully with oil cuts after OPEC pressure

Oil prices fall on demand concerns from U.S. coronavirus case surge

Oil prices mixed as coronavirus spike casts shadow over U.S. demand

Oil falls below $43 on virus fears, still heads for weekly gain

Palm oil reverses early gains as crude oil falls

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