Trends - Crude Oil - Business Recorder

Crude Oil

US oil may retest support at $57.88

Given that the support at $57.88 held firm on March 23 under a strong attack by bears, it may hold again and trigger a bounce this time.

Published 01 Apr, 2021 10:50am

Markets

Brent oil may fall into $61.05-$61.89 range

Resistance is at $63.98, a break above which may lead to a gain into $64.51-$65.83 range.

Published 01 Apr, 2021 10:47am

Markets

Oil prices gain on expectations OPEC+ will keep lid on output

Under existing curbs, OPEC, led by Saudi Arabia, and non-OPEC producers, led by Russia, have cut just over 7 million barrels per day (bpd), while Saudi Arabia has made an additional voluntary reduction of 1 million bpd.

Published 31 Mar, 2021 12:01pm

Markets

China's Sinopec raises 2021 capital expenditure by 23.8pc

BEIJING: China Petroleum & Chemical Corp, better known as Sinopec, plans a 23.8% increase in capital spending to...

Published 31 Mar, 2021 05:42am

Markets

Oil falls as Suez opens, focus turns to OPEC+ output

Brent crude was down $1.02, or 1.6%, at $63.96 a barrel by 1334 GMT. West Texas Intermediate US oil was off by $1.16, or 1.9%, at $60.40 barrel.
"The wobble we have seen in prices means that OPEC+ will likely need to take a cautious approach once again," bank ING said. "We are of the view that the group will likely hold output levels unchanged."

Published 30 Mar, 2021 09:07pm

Markets

Oil rises on hopes for stable OPEC+ output, fears of long disruption at Suez Canal

Brent oil rose 58 cents, or 0.9%, to $65.15 a barrel.
Both contracts had fallen more than $1 earlier in the session.
The huge container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said.

Published 29 Mar, 2021 06:13pm

Markets

Vietnam Q1 coffee exports seen down 17% y/y, rice down 30.4%

The GSO trade data is subject to revision next month.

Published 29 Mar, 2021 12:39pm

Markets

PMEX daily trading report

KARACHI: On Thursday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 14.260...

Published 27 Mar, 2021 05:41am

Markets

Oil jumps 4pc on fears Suez Canal blockage may last weeks

• Shipping rates rise, oil and gas tankers diverted

Published 27 Mar, 2021 05:41am

Markets

Oil prices rise over 3pc on fears Suez blockage may last weeks

Brent, WTI rise about 2% but set for 3rd weekly loss.
Ship blocking Suez may take weeks to free-salvage firm.
Shipping rates rise, oil and gas tankers diverted.
UAE's ADNOC deepens supply cuts to Asia in June –sources.

Published 26 Mar, 2021 07:41pm

Markets

Oil prices rise on fears Suez blockage may last weeks

Brent, WTI rise about 2% but set for 3rd weekly loss.
Ship blocking Suez may take weeks to free-salvage firm.
Shipping rates rise, oil and gas tankers diverted.
- UAE's ADNOC deepens supply cuts to Asia in June –sources.

Published 26 Mar, 2021 05:16pm

Markets

Malaysian palm oil down

KUALA LUMPUR: Malaysian palm oil futures extended early losses on Thursday, declining for a second straight session,...

Published 26 Mar, 2021 05:22am

Markets

Oil prices drop as demand concerns outweigh Suez disruption

Suez Canal suspends traffic, efforts to dislodge ship continue.
Prices fall as demand concerns dominate.
Big gains unlikely until OPEC meeting on April 1 – analyst.

Published 25 Mar, 2021 08:22pm

Markets

Oil drops as demand concerns outweigh Suez Canal disruptions

Suez Canal suspends traffic, efforts to dislodge ship continue.
Prices fall as demand concerns dominate.
Big gains unlikely until OPEC meeting on April 1 – analyst.

Published 25 Mar, 2021 05:19pm

Markets

US oil may test support at $59.78

The first round of the bounce from $57.25 completed around a resistance at $61.35.

Published 25 Mar, 2021 11:41am

Markets

Brent oil may hover below $64.51

A five-wave cycle from $71.38 ended at $60.27 on Tuesday. Over the next few days, this cycle will be partially or totally reversed.

Published 25 Mar, 2021 11:38am

Markets

Oil rises as Suez Canal ship runs aground, demand fears weigh

API says US crude inventories rise 2.9 million barrels.
Germany's Merkel says drops plan for stricter Easter shutdown.
Sentiment still bearish after other pandemic curbs in Europe.
Ship in blocked convoy in Suez Canal on move- source and witness.

Published 24 Mar, 2021 08:20pm

Markets

Safe-haven dollar in demand as worries over European lockdowns, US taxes sap risk appetite

The safe-haven yen was broadly stronger, and Australia's dollar - considered a liquid proxy for risk - weakened further on Wednesday.

Published 24 Mar, 2021 11:53am

Markets

Brent oil may fall into $58.41-$59.12 range

The deep drop on Tuesday confirms an extension of the downtrend towards the target zone, which is suggested by a falling channel.

Published 24 Mar, 2021 11:49am

Markets

Oil steadies on demand recovery expectation despite European lockdowns

A third of French people enter new lockdown.
Demand slow, but Aramco CEO predicts recovery.
US rig count rises to highest since April.

Published 22 Mar, 2021 08:37pm

Markets

Oil steadies on demand recovery hopes despite European lockdowns

A third of French people enter new lockdown.
Demand slow, but Aramco CEO predicts recovery.
US rig count rises to highest since April.

Updated 22 Mar, 2021 06:29pm

Markets

China’s crude imports from Oman, UAE jump as Iranian barrels fall

BEIJING: China’s crude oil imports from Oman and the United Arab Emirates rose 30% and 61%, respectively, in the...

Published 21 Mar, 2021 04:05am

Markets

Oil falls 4pc as dollar rises and vaccine rollout stalls

Benchmarks fall for fifth session to two-week lows.
US stockpiles may grow more after WTI flip into contango.
Stronger dollar adds further pressure to oil prices.

Published 18 Mar, 2021 09:07pm

Markets

Oil falls as inventories rise and vaccine rollout stalls

Brent crude fell 50 cents, or 0.74%, to $67.50 a barrel by 1150 GMT after dropping 0.82% on Wednesday.
Short-term developments - stuttering vaccine rollouts and the build in US oil inventories - are driving sentiment, but the longer-term oil outlook is still encouraging.

Published 18 Mar, 2021 05:22pm

Markets

Oil slips further on Europe demand concerns

API report shows surprise drop in US crude inventories.
No policy shift expected by US Federal Reserve.
IEA says demand won't reach pre-pandemic level until 2023.

Published 17 Mar, 2021 08:31pm

Markets

Oil climbs as surprise drop in US crude stocks outweighs European vaccine woes

The market has drifted lower over the past few days as more European countries pause inoculations of AstraZeneca's COVID-19 vaccines due to concerns over possible serious side effects, which could slow a recovery in fuel demand.

Published 17 Mar, 2021 01:15pm

Markets

Oil steady as demand worries counter surprise drop in US crude stocks

At the same time, gasoline stocks fell less than expected, declining by 926,000 barrels, compared with estimates for a draw of 3 million barrels.

Published 17 Mar, 2021 12:43pm

Markets

US oil may retest support at $63.90

It could be too early to conclude that the uptrend has reversed, simply based on the consolidation.

Published 17 Mar, 2021 11:47am

Markets

Oil drops 2pc as COVID-19 vaccine halt threatens demand

Germany, France, Italy suspend use of AstraZeneca shot.
Move threatens EU's already slow vaccination campaign.
Coming Up: API inventory data at 4:30 p.m. ET/2030 GMT.

Published 16 Mar, 2021 09:34pm

Markets

Oil drops as inventories and COVID vaccine halt threaten demand

Germany, France, Italy suspend use of AstraZeneca shot.
Move threatens EU's already slow vaccination campaign.
US inventories seen rising in data releases this week.
US refineries take time to recover from 'big freeze'.

Updated 16 Mar, 2021 10:02pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 25	278.52
USD PKR Interbank Buying / Apr 25	278.32
USD to Japanese Yen / Apr 25	155.60
USD to Swiss Franc / Apr 25	0.91
Pound Sterling to USD / Apr 25	1.25
Euro to USD / Apr 25	1.07

Stock	Volume
S&P 500 / Apr 24	5070.63
Nasdaq / Apr 24	15712.75
Dow Jones / Apr 24	38460.92
India Sensex / Apr 25	73780.80
Tokyo Nikkei / Apr 25	37628.48
Hang Seng / Apr 25	17264.90
FTSE 100 / Apr 25	8077.84
Germany DAX 30 / Apr 25	17994.97

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 23	21035
Gold 10 Grams PKR / Apr 23	213220
Crude Oil USD/Barrel / Apr 25	83.02
Gold Spot USD/Ounce / Apr 25	2325.45
Cotton US¢/pound / Apr 25	80.89
Petrol/Litre / Apr 26	293.94

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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