Trends - Crude Oil - Business Recorder

Crude Oil

Pakistan, ITFC sign $386mn agreement for oil, LNG import

The facility will be utilized by Pakistan State Oil Company Limited (PSO), Pakistan Arab Refinery Limited, and Pakistan LNG Limited.

Published 12 Oct, 2020 03:57pm

Markets

Oil prices fall as supply concerns ease

Brent crude was down 41 cents to $42.44 a barrel by 0650 GMT and US West Texas Intermediate was at $40.18, down 42 cents.

Published 12 Oct, 2020 03:41pm

Business & Finance

Oil prices extend slide as U.S. producers restore output post-hurricane

Brent crude for December fell 32 cents, or 0.8%, to $42.53 a barrel by 0347 GMT and U.S. West Texas Intermediate for November was at $40.30 a barrel, down 30 cents, or 0.7%.

Published 12 Oct, 2020 10:03am

World

Hurricane Delta's winds topple gear, disrupt US oil refineries

Delta's fierce winds tore roofs off homes, cut electric power and disrupted energy operations as far away as Port Arthur, Texas, 65 miles.
Total SA's 225,500 barrel-per-day (bpd) refinery lost power, Valero Energy Corp's 335,000 bpd plant lost a cooling tower.

Published 11 Oct, 2020 12:09am

Markets

Oil prices slip more than 1pc after Norway oil worker strike ends

Both benchmarks on track for weekly gains of about 9%.
Norway oil worker strike ends.
Hurricane halts 92% of US Gulf of Mexico oil output.
US Senate Republicans cast doubt on stimulus deal.
JP Morgan- OPEC could reverse planned easing of oil cuts in 2021.

Published 10 Oct, 2020 12:41am

Business & Finance

Hurricane Delta shuts most US offshore oil output in 15 years

Delta packed 110 mile-per-hour (175 kph) winds as it churned through the Gulf's prime oil-producing area toward landfall on coastal Louisiana.
Ports from Beaumont, Texas, to Lake Charles, Louisiana, were closed while those further east.

Published 10 Oct, 2020 12:19am

Markets

Oil prices head for 10pc weekly jump on N. America, Norway outages

Brent was down 27 cents at $43.07 a barrel by 0908 GMT. US West Texas Intermediate (WTI) crude fell 28 cents to $40.91.

Updated 09 Oct, 2020 04:19pm

Business & Finance

Oil prices pause in week-long surge Norwegian strike drives strong gains

Brent was down by 9 cents at $43.25 a barrel by 0152 GMT, having gained more than 3% on Thursday. U.S. West Texas Intermediate (WTI) crude dropped 5 cents at $41.14 after also falling more than 3% on Thursday.

Updated 09 Oct, 2020 10:55am

Markets

Oil jumps on supply losses, possible OPEC output reversal

US crude inventories rise, fuel inventories dip.
Oil platforms shut in US Gulf as Hurricane Delta strengthens.
Norway strike could shut giant Sverdrup oilfield on Oct 14.

Published 09 Oct, 2020 12:34am

Pakistan

Omar lauds PSO's role in smooth fuel supply during COVID-19 pandemic

He also appreciated the PSO’s environment friendly fuel initiatives and encouraged further exploration of biofuels and cleaner energy solutions.

Published 08 Oct, 2020 06:57pm

Business & Finance

Oil rises above $42 on supply losses, US stimulus hopes

Oil and gas workers have withdrawn from offshore US Gulf production facilities as Hurricane Delta was forecast to intensify into a powerful, Category 3 storm.

Published 08 Oct, 2020 04:46pm

Business & Finance

BB Energy completes investment in Pakistan’s Euro Oil

Euro Oil, is operating in Pakistan, having 7,000 tons storage capacity for retail and wholesale oil products and services throughout the country.

Published 08 Oct, 2020 10:49am

Business & Finance

Oil prices rise as Hurricane Delta approaches U.S. Gulf of Mexico

U.S. West Texas Intermediate (WTI) crude futures rose 13 cents, or 0.3%, to $40.08 a barrel at 0215 GMT, after falling 1.8% on Wednesday.
Brent crude futures rose 20 cents, or 0.5%, to $42.19 a barrel, after falling 1.6% on Wednesday.

Published 08 Oct, 2020 10:17am

Markets

Oil falls 2pc on US stimulus impasse, stockpile rise

US crude stocks edge up, fuel inventories dip –EIA.
Oil platforms shut in US Gulf as Hurricane Delta strengthens.
Norwegian union threatens strike escalation.

Published 08 Oct, 2020 02:06am

Markets

Oil falls on US stimulus impasse and US stockpiles

Brent crude futures lost 74 cents, or 1.7pc, to $41.91 a barrel by 1009 GMT and US West Texas Intermediate (WTI) crude declined by 89 cents, or 2.2pc, to $39.78.

Published 07 Oct, 2020 03:57pm

Business & Finance

US Gulf oil platforms shutting as Hurricane Delta strengthens

Hurricane Delta, the 25th named storm of the 2020 Atlantic Hurricane season, was churning in the Caribbean with sustained winds of 140 miles per hour.
Royal Dutch Shell Plc said on Tuesday it was evacuating nonessential workers from all nine of its offshore Gulf of Mexico operations and preparing to shut production.

Published 07 Oct, 2020 01:57am

Markets

Oil up more than $1 a barrel on hurricane, supply disruptions

Norway strikes buoy markets.
Trump's return soothes market nerves.
Hurricane brews in Gulf of Mexico.

Published 07 Oct, 2020 12:42am

Markets

Oil prices gain on supply disruptions, Trump's hospital exit

US West Texas Intermediate (WTI) crude futures were trading 34 cents higher, or 0.9pc, at $39.56 a barrel.

Published 06 Oct, 2020 03:41pm

Markets

Oil jumps 5pc on Trump health update, Norway shutdowns

Trump says he will return to White House later on Monday.
Six Norway oil and gas fields shut as strike escalates.

Published 06 Oct, 2020 01:37am

Markets

US stocks, crude jump on revived stimulus hopes, Trump's improving health

This probably is a bit of a relief rally," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
"That seems to be where the market is leaning right now."

Published 06 Oct, 2020 01:18am

Markets

CBOT soybeans close higher as crude oil rallies

The strength in crude oil supported gains in soyoil, which rose 2.9%.
Soymeal futures were weaker, setting back from contract highs hit on Friday.

Published 06 Oct, 2020 12:47am

Markets

Saudi Arabia oil exports at 6.1mn bpd, says industry source

The world's top oil exporter pumped 8.988 million bpd and exported 6 million bpd in August, the source said.

Published 05 Oct, 2020 04:48pm

Markets

Oil rebounds on Trump health update, Norway shutdowns

Brent was up $1.20, or 3.1pc, to $40.47 a barrel by 0925 GMT. US West Texas Intermediate (WTI) crude was $1.26, or 3.4pc, higher at $38.31 a barrel.

Published 05 Oct, 2020 04:17pm

Business & Finance

Chevron Nigeria plans to cut 25pc of staff after oil price drop

There were no plans to move jobs abroad and it was engaging with its workforce on the plan.
Prices of oil, Nigeria's main export, fell sharply early this year and in April global benchmark Brent hit a 21-year low below $16 as the coronavirus outbreak hit demand.

Updated 03 Oct, 2020 11:08pm

Markets

US natgas falls with crude after Trump tests positive for coronavirus

Front-month gas futures on the New York Mercantile Exchange (NYMEX) fell 8.9 cents, or 3.5%, to settle at $2.438 per million British thermal units.
The cash market's depressed trading signals a broader weakness that will need to be mitigated before NYMEX trading can strengthen.

Published 03 Oct, 2020 01:48am

Markets

Venezuela's oil exports hit 5-month high ahead of wind-down

The Maximo Gorki, carrying 2 million barrels of heavy crudes for an undisclosed customer in Fujairah.
Iran and Venezuela, both under US sanctions, have increased cooperation this year, especially in the oil trade.

Published 02 Oct, 2020 10:56pm

Markets

Palm falls over 2pc on cheaper crude after Trump tests positive for COVID-19

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange closed 2.8pc lower to 2,715 ringgit ($652.33) a tonne.

Updated 02 Oct, 2020 05:57pm

Oil drops 4pc after Trump's positive coronavirus test

Brent crude slipped on the Trump news and was down $1.67, or 4.1pc, at $39.26 a barrel by 1038 GMT. US oil was down $1.62, or 4.2pc, at $37.10.

Published 02 Oct, 2020 04:25pm

Markets

Oil falls further as Trump tests positive for COVID-19

Brent crude slipped on the news and was down 78 cents, or 1.9%, at $40.53 a barrel at 0516 GMT. U.S. oil was 79 cents, or 2%, lower at $37.93.

Published 02 Oct, 2020 11:19am

Markets

Oil slides on weak demand outlook and higher OPEC supplies

Brent crude futures fell $1.64, or 3.9pc, to $40.66 a barrel by 1401 GMT and US West Texas Intermediate (WTI) crude futures were down $1.75, or 4.4pc, at $38.47.

Published 01 Oct, 2020 07:59pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 23	278.40
USD PKR Interbank Buying / Apr 23	278.10
USD to Japanese Yen / Apr 23	154.85
USD to Swiss Franc / Apr 23	0.91
Pound Sterling to USD / Apr 23	1.24
Euro to USD / Apr 23	1.07

Stock	Volume
S&P 500 / Apr 22	5010.60
Nasdaq / Apr 22	15451.31
Dow Jones / Apr 22	38239.98
India Sensex / Apr 23	73884.02
Tokyo Nikkei / Apr 23	37552.16
Hang Seng / Apr 23	16828.93
FTSE 100 / Apr 23	8045.70
Germany DAX 30 / Apr 23	17967.18

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 19	21035
Gold 10 Grams PKR / Apr 22	213220
Crude Oil USD/Barrel / Apr 23	82.41
Gold Spot USD/Ounce / Apr 23	2301.86
Cotton US¢/pound / Apr 23	82.37
Petrol/Litre / Apr 24	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 24 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 24 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 24 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 24 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 24 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 24 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 24 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 24 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 24 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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