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Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,246
4024hr
Pakistan Cases
1,226,008
2,16724hr
4.22% positivity
Sindh
450,787
Punjab
422,790
Balochistan
32,769
Islamabad
104,242
KPK
171,388

Crude Oil

Palm up 1.5pc as crude oil extend gains
Markets

Palm up 1.5pc as crude oil extend gains

  • The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed 1.5% higher at 2,361 ringgit ($551.25).
  • Crude oil prices rose on Thursday as a sharp drop in oil stockpiles, making palm a more attractive option for biodiesel feedstock.
Published 02 Jul, 2020 05:45pm
Angola resists OPEC pressure to comply fully with oil cuts
Markets

Angola resists OPEC pressure to comply fully with oil cuts

  • Saudi Arabia has been pressing laggards such as Iraq, Kazakhstan, Nigeria and Angola to improve compliance with the cuts and compensate.
  • It trimmed production to 1.24 million bpd in June, based on a Reuters survey, 60,000 bpd above its target.
Published 02 Jul, 2020 04:43pm
Oil prices slip on demand fears as U.S. virus cases surge
Markets

Oil prices slip on demand fears as U.S. virus cases surge

  • U.S. West Texas Intermediate (WTI) crude futures fell 10 cents, or 0.3%, to $39.72 a barrel at 0148 GMT, trimming a 1.4% rise from Wednesday.
  • Brent crude futures eased 6 cents, or 0.1%, to $41.97 a barrel, after rising 1.8% in the previous session.
Published 02 Jul, 2020 10:27am
OPEC has cut oil output by 1.25 mbpd in June, says Petro-Logistics
Markets

OPEC has cut oil output by 1.25 mbpd in June, says Petro-Logistics

  • OPEC and its allies, a group known as OPEC+, agreed to cut supply by a record 9.7 million bpd from May 1 to offset an oil price and demand slump triggered by the coronavirus crisis.
  • Excluding Iran, Libya and Venezuela, which are not part of the curtailment agreemen.
Published 29 Jun, 2020 07:45pm
German oil imports fell 11.3pc in April at height of lockdown
Markets

German oil imports fell 11.3pc in April at height of lockdown

  • Volumes reaching Germany in April were 6.9 million tonnes and those over the four months totalled 28.1 million tonnes.
  • Germany spent 8.8 billion euros ($9.88 billion) on crude imports in Jan-April, 26.7% less than a year earlier when market prices were much higher, BAFA said.
Published 26 Jun, 2020 07:50pm