Trends - Crude Oil - Business Recorder

Crude Oil

Oil slips, unable to rebound from Monday's losses as COVID cases pick up

Brent crude fell 7 cents to $41.37 per barrel by 1:24 p.m. EDT (1724 GMT).
US West Texas Intermediate crude (WTI) for October, due to expire on Tuesday, fell 18 cents to $39.13.
US crude oil and gasoline stockpiles likely fell last week, while inventories of distillates.

Published 23 Sep, 2020 12:44am

Markets

Venezuela's PDVSA to sell crude cargo to Iran's national oil company

Venezuela and Iran are under sanctions imposed by the United States, hurting their oil industries and hitting crude exports.
Washington has sought to disrupt the deepening bilateral trade between the two countries.

Published 22 Sep, 2020 10:21pm

Markets

Oil rises on expectations demand can survive new lockdowns

US West Texas Intermediate (WTI) crude for October, due to expire on Tuesday, rose 58 cents, or 1.5pc, to $39.89.

Published 22 Sep, 2020 07:31pm

Markets

Oil rises as U.S. storm eases, but demand worries linger

U.S. West Texas Intermediate (WTI) crude futures for October, due to expire on Tuesday, rose 26 cents, or 0.7%, to $39.57 a barrel at 0224 GMT.

Published 22 Sep, 2020 10:17am

Markets

Oil falls 5pc as economic outlook dims with rising virus cases

More than 30.78 mln people infected by coronavirus-Reuters tally.
Both crude benchmarks in biggest daily drop since Sept 8.
Storm Beta moving towards the central Texas coast –NHC.

Published 22 Sep, 2020 01:26am

Markets

Oil prices slip on potential Libyan output return, storm supports

Brent crude was down 78 cents at $42.37 a barrel by 0909 GMT, set for its biggest daily drop in two weeks. US crude fell 84 cents to $40.27 a barrel.

Published 21 Sep, 2020 03:10pm

Markets

Oil prices steady as third storm in month takes aims at U.S.

Brent crude was up 9 cents, or 0.2%, at $43.24 a barrel by 0230 GMT, while U.S. crude was up 10 cents, or 0.2%, to $42.21 a barrel.

Published 21 Sep, 2020 10:25am

Markets

Oil refiners worldwide struggle with weak demand, inventory glut

Refiners cut output by as much as 35% in spring as coronavirus lockdowns destroyed the need for travel.

Published 21 Sep, 2020 10:13am

Markets

Oil prices mixed as OPEC boost countered by Libyan developments

OPEC+ pushes for better compliance with output quotas.
Goldman Sachs and UBS predict undersupply.
New storms forming as US output resumes.

Published 18 Sep, 2020 08:25pm

Markets

Russian oil exports seen stable in October

Russia plans to load 3.5 million tonnes of Urals oil from its Baltic ports in September and 1.6 million tonnes of Urals and Siberian Light oil from the Black Sea's Novorossiisk.
Traders believe this will not be the case this time due to production cuts by Russia within the OPEC+ global deal.

Published 18 Sep, 2020 07:02pm

Markets

Oil prices fall after Haftar signals Libya output to resume

OPEC+ pushes for better compliance with output quotas.
Goldman Sachs and UBS predict undersupply.
New storms forming as US output resumes.

Published 18 Sep, 2020 07:00pm

Markets

Oil eases as U.S. production returns after storm

Brent crude was down 6 cents at $43.24 a barrel by 0112 GMT, while U.S. oil futures dropped 6 cents to $40.91 a barrel.

Published 18 Sep, 2020 10:19am

Markets

OPEC+ may hold extraordinary October meeting if oil market worsens

OPEC+ worried about second wave of pandemic.
Compensation for overproduction could be extended.
UAE emerges as laggard alongside Iraq, Nigeria.

Updated 17 Sep, 2020 08:47pm

Markets

Saudi Arabia crude exports rebound in July from historic lows

OPEC+ has been reducing output by 7.7 million bpd, or about 8% of global demand.
Saudi's domestic crude refinery throughput fell 13.2% to 2.09 million bpd in July, while direct crude burn rose by 176,000 bpd to 645,000 bpd.

Published 17 Sep, 2020 08:06pm

Markets

OPEC+ presses for compliance with oil cuts, Saudi says it's no 'act of charity'

OPEC+ worried about second wave of virus.
Compensation for overproduction could be extended.
UAE emerges as laggard alongside Iraq, Nigeria.

Published 17 Sep, 2020 07:26pm

Markets

Oil falls as crews return to US Gulf rigs

US oil producers restart operations after hurricane.
Concerns about weak fuel demand back in focus.
OPEC+ online meeting in focus.
US data likely to show high levels of jobless claims.

Published 17 Sep, 2020 05:48pm

Markets

Oil falls as demand worries re-emerge, crews return to U.S. Gulf rigs

Brent crude futures fell 36 cents, or 0.8%, to $41.86 a barrel at 0355 GMT, after climbing 4.2% on Wednesday.

Published 17 Sep, 2020 10:30am

Markets

Oil prices up 3pc as US crude inventories fall, hurricane hits output

US crudes drop by 4 million bbls, diesel stocks rise -EIA.
A quarter of US Gulf of Mexico output offline.
OPEC+ panel meets on Thursday to discuss supply pact.

Published 16 Sep, 2020 08:41pm

Markets

Russian oil exports seen flat in Q4 at 62.4mn tonnes

That is against the 62.8 million tonnes seen in the third quarter.
The schedule showed that Urals blend exports from the Baltic Sea ports will reach 18.5 million tonnes, up from 17.8 million tonnes in the current quarter.

Published 16 Sep, 2020 08:39pm

Markets

Oil majors' renewable drive pushes up price tags on assets

BP, Shell and Total have all announced renewable expansion plans this year to reduce their reliance on fossil fuels and meet internal climate targets.
SSE also earlier this year sold a 51% stake in its Seagreen 1 British offshore wind farm project to France's Total.

Published 16 Sep, 2020 06:56pm

Business & Finance

Oil rises as storm closes US production, inventories drop

More than 25% of U.S. offshore oil and gas output was shut and export ports were closed on Tuesday as Hurricane Sally sat just off the U.S. Gulf Coast.

Published 16 Sep, 2020 10:58am

Markets

Oil rises but bleaker demand outlook weighs

IEA trims 2020 demand forecast by 200,000 bpd.
OPEC expects 2020 demand to fall by 9.46mn bpd

Published 15 Sep, 2020 05:50pm

Markets

Major blow to oil refiners, Trump’s administration rejects requests for biofuel waiver

The decision to deny waivers comes because they had become a controversial issue between oil refiners and farmers in the US Farm Belt, an important political constituency for Trump as election nears.

Published 15 Sep, 2020 01:07pm

Markets

Oil slips as demand concerns rise, Libya output looms

Bleak economic recovery dampens sentiment.
Possible Libya output resumption to add more supply.
Storm headed for US Gulf coast.

Published 14 Sep, 2020 04:46pm

Business & Finance

Fossil fuel demand to take historic knock amid COVID-19 scars: BP

BP’s 2020 benchmark Energy Outlook underpins Chief Executive Bernard Looney’s new strategy to “reinvent” the 111-year old oil and gas company by shifting renewables and power.

Published 14 Sep, 2020 10:08am

Markets

Oil climbs as US stock market strengthens, but heads for weekly loss

Brent rose 19 cents, or 0.5%, to $40.25 a barrel by 11:07 a.m. ET (1507 GMT). US crude was up 42 cents, or 1.1%, at $37.72 a barrel.
Both benchmarks were down about 5% for the week.

Published 11 Sep, 2020 09:09pm

Markets

Oil steady as US stock market slides, inventories rise

Brent was down 2 cents, or less than 0.1%, at $40.04 a barrel by 1128 GMT, while US crude was up 12 cents, or 0.3%, to $37.42 a barrel.
Financial markets are continuing to set the tone, including on the oil market. The renewed slide on US stock markets dragged oil prices down with it.

Published 11 Sep, 2020 05:19pm

Markets

Oil extends losses as stockpile rise amid weakening demand

Brent crude was down 18 cents, or 0.5%, at $39.88 a barrel by 0337 GMT, after falling nearly 2% on Thursday, while U.S. crude dropped 14 cents, or 0.4%, to $37.16 a barrel, having fallen 2% in the previous session.

Published 11 Sep, 2020 11:13am

Markets

Oil ease after surprise US crude stock build confirmed

US crude stocks rise 2 mln bbls, vs 1.3 mln forecast draw –EIA.
API also said US crude stockpiles rose last week.
Traders booking tankers to store oil.
OPEC+ meeting due Sept. 17

Published 10 Sep, 2020 09:02pm

Markets

Russian oil flows back to Europe from Asia, pricing weakens

Urals differentials to the benchmark Brent blend in northwestern Europe, a key metric for the pricing.
He had long complained about Urals' discount to Brent, questioning if the pattern was justifiable.

Published 10 Sep, 2020 07:31pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 18	278.62
USD PKR Interbank Buying / Apr 18	278.32
USD to Japanese Yen / Apr 18	154.30
USD to Swiss Franc / Apr 18	0.91
Pound Sterling to USD / Apr 18	1.25
Euro to USD / Apr 18	1.07

Stock	Volume
S&P 500 / Apr 17	5022.21
Nasdaq / Apr 17	15683.37
FTSE 100 / Apr 17	7847.99
Dow Jones / Apr 17	37735.31
Germany DAX 30 / Apr 17	17770.02
France CAC40 / Apr 17	7981.51
India Sensex / Apr 18	72965.85
Tokyo Nikkei / Apr 18	38103.03

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 16	21735
Gold 10 Grams PKR / Apr 17	215964
Petrol/Litre / Apr 18	293.94
Crude Oil USD/Barrel / Apr 18	82.77
Gold Spot USD/Ounce / Apr 18	2374.98
Diesel/Litre / Apr 18	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 18 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 18 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 18 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 18 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 18 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 18 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 18 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 18 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 18 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 18 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 18 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 18 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 18 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 18 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 18 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 18 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 18 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 18 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 18 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 18 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 18 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 18 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 18 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 18 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 18 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 18 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 18 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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