Trends - Crude Oil - Business Recorder

Crude Oil

Saudi Arabia may cut October crude oil prices to Asia

SINGAPORE: Top oil exporter Saudi Arabia is expected to cut its crude oil official selling prices (OSPs) for Asian...

Published 01 Sep, 2020 02:57am

Markets

Oil steady as prices struggle to break through demand uncertainty

ADNOC cuts Asia crude supplies in Oct by 30% -sources.
Brent set for 5th monthly gain; 4th mth for WTI.
China's crude imports set for first fall in 5 months.

Published 31 Aug, 2020 08:54pm

Markets

US shale boom's legacy: Overpriced deals, unwanted assets

The prospect for relief is limited: the industry is still working through the shock of a historic collapse in fuel demand in such a short period of time,
The shale revolution turned the United States into the world's largest crude producer, pumping out more than 12 million barrels per day (bpd) at its peak.

Published 31 Aug, 2020 07:22pm

Markets

Brent hits 5-mth high on Abu Dhabi supply cuts, China data

ADNOC cuts Asia crude supplies in Oct by 30% -sources.
Brent set for 5th monthly gain; 4th mth for WTI.
China's crude imports set for first fall in 5 months.

Published 31 Aug, 2020 06:55pm

Business & Finance

Another POL bomb in the offing

After the approval of Prime Minister Imran Khan, the new prices will be applicable from September 1.

Published 31 Aug, 2020 02:48pm

Markets

Oil rises on stimulus support and China data, set for monthly gains

Brent crude futures for November climbed 28 cents, or 0.6%, to $46.09 a barrel by 0435 GMT, while U.S. West Texas Intermediate crude was at $43.15 a barrel, up 18 cents, or 0.4%.

Published 31 Aug, 2020 10:18am

Business & Finance

Nigeria's Lekoil seeks $100mn for Ogo oilfield drilling

Lekoil reached a deferred payment deal earlier this year to keep its stake in OML 310, where Ogo sits.
Lekoil is in talks for a mix of direct investment into the asset and vendor financing.

Published 28 Aug, 2020 07:49pm

Business & Finance

OGDCL discovers Hydrocarbon reserves at Kohat

The Joint Venture of Baratai Block comprising OGDCL as operator (97.5%) and Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) (2.5%) has discovered Gas & Condensate from its exploratory Well Siab-1, announced the company on Friday.

Published 28 Aug, 2020 04:08pm

Markets

Saudi Arabia's July crude oil exports to China fall

BEIJING/SINGAPORE: Saudi Arabia's crude oil exports to China fell in July, taking it out of the top two supplier...

Published 28 Aug, 2020 02:02am

Markets

Oil prices steady as Gulf of Mexico coast braces for Hurricane Laura

Brent crude futures for October, which expire on Friday, rose 13 cents, or, 0.3% to $45.77 a barrel by 0540 GMT, having fallen 22 cents, or 0.5%, on Wednesday. The more active November Brent contract was up 10 cents at $46.26 per barrel.

Published 27 Aug, 2020 11:02am

Markets

Oil holds near five-month high on US output cuts, virus concern weighs

Hurricane Laura seen as biggest storm threat since Katrina.
US crude and gasoline stocks fall –API.
Coming up: EIA inventory data at 1430 GMT.

Published 26 Aug, 2020 06:26pm

Markets

Saudi Arabia slips to 3rd-biggest in China crude supply for July

Saudi Arabia shipped 5.36 million tonnes to China last month, the equivalent of 1.26 million barrels per day (bpd).
Russia, the biggest crude supplier to China in July, shipped 7.38 million tonnes, or 1.74 million bpd.

Published 26 Aug, 2020 04:19pm

Business & Finance

Pakistan Refinery Limited halts operations after Karachi rains damage oil pipelines

The incident resulted in severely damaging the aforesaid oil pipelines, it added.

Published 26 Aug, 2020 03:25pm

Markets

Brent prices rise on U.S. output cuts, China trade deal hopes

Brent crude oil futures added 12 cents, or 0.3%, to $45.98 a barrel by 0335 GMT, while U.S. West Texas Intermediate crude remained steady at $43.35 a barrel. Both benchmarks settled at a five-month high on Tuesday.

Published 26 Aug, 2020 09:48am

Markets

Saudi Arabia slips to 3rd-biggest in China crude supply for July

BEIJING/SINGAPORE: Saudi Arabia's crude oil exports to China fell in July, taking it out of the top two supplier...

Updated 26 Aug, 2020 02:50am

Markets

Oil prices rise on storm-driven output cuts, COVID-19 weighs

Brent crude oil futures had added 84 cents, or 1.86%, to $45.97 a barrel.

Published 25 Aug, 2020 08:01pm

Markets

Oil prices mixed on storm-driven output cuts, rising COVID-19 cases

Brent crude oil futures added 9 cents, or 0.2%, to $45.22 a barrel by 0419 GMT, while U.S. West Texas Intermediate crude was down 9 cents, or 0.2%, at $42.53 a barrel.

Published 25 Aug, 2020 10:11am

Markets

Oil gains on storm-hit US output and COVID-19 treatment hopes

Brent crude was up 32 cents, or 0.7%, at $44.67 a barrel.

Published 24 Aug, 2020 08:40pm

Markets

Oil prices steady as 'double trouble' storms bear down on Gulf of Mexico

Brent futures slipped 2 cents, or 0.1%, to $44.33 a barrel by 0316 GMT, while U.S. West Texas Intermediate crude was down 2 cents, or 0.1%, to $42.32 a barrel. Both benchmark contracts had risen early on Monday.

Published 24 Aug, 2020 10:21am

Markets

Oil climbs for third straight week, buoyed by producers holding back output

U.S. West Texas Intermediate (WTI) crude futures inched up 8 cents, or 0.2%, to $42.90 at 0158 GMT, on course for a 2% rise for the week.
Brent crude futures rose 16 cents, or 0.4%, to $44.07, heading for a weekly rise around 0.5%.

Published 21 Aug, 2020 10:11am

Markets

Oil falls on OPEC+ oversupply, US jobless data

OPEC+ needs to fix daily oversupply of more than 2 mln barrels.
US weekly jobless claims back over 1 million.
Benchmark prices fall nearly 3%.

Published 20 Aug, 2020 07:29pm

Markets

Indian Oil to fully restart Paradip refinery by Saturday

The refinery's maintenance shutdown has been extended by a few days due to shortage of laborers amid the COVID-19 pandemic.
Remaining seven are being started in sequence as all are connected and start up will complete over the next two days.

Published 20 Aug, 2020 05:31pm

Markets

Saudi Arabia, Russia insist oil production cuts be respected

The coronavirus pandemic slammed the global economy earlier this year, plunging oil prices into unprecedented negative territory.

Published 20 Aug, 2020 02:29am

Markets

US eyes October deadline to end exemptions on Venezuela oil sanctions

US President Donald Trump has ramped up sanctions on Venezuela's state-run PDVSA, its key foreign partners.
Officials in Washington say the failure of sanctions to loosen Maduro's grip on power has frustrated Trump.

Published 20 Aug, 2020 01:38am

Markets

OPEC+ presses for compliance with oil cuts

Wants Iraq, Nigeria, Angola, Kazakhstan to cut more.
Oil prices near 5-month highs.
Demand could reach pre-COVID levels in Q4.
Second virus wave seen as key risk to demand.

Published 20 Aug, 2020 01:36am

Markets

Oil slips as demand worries outweigh US stocks draw

US West Texas Intermediate (WTI) crude futures were down 32 cents, or 0.75pc, at $42.57 a barrel.

Published 19 Aug, 2020 03:50pm

Markets

Oil slips as demand fears outweigh strong U.S. stocks draw

With investors keeping one eye on a key producer countries’ ministerial meeting later in the day, Brent crude futures fell 33 cents, or 0.7%, to $45.13 a barrel by 0418 GMT, having edged up 9 cents on Tuesday.

Published 19 Aug, 2020 10:20am

Markets

Oil steadies as demand fears face off with high OPEC+ compliance

Demand concerns from coronavirus fuel market losses.
OPEC+ panel focuses on compliance with oil cuts.
Coming up: API data on US crude inventories.

Published 18 Aug, 2020 11:38pm

World

Japan ramps up aid to Mauritius after oil spill

The new team of seven experts is to leave Japan on Wednesday and will carry materials such as sorbent to help clean up the oil.

Published 18 Aug, 2020 01:42am

Markets

Trump administration finalizes oil drilling plan in Alaska wildlife refuge

The energy industry and Alaska Governor Michael Dunleavy said opening ANWR to drilling would create jobs and boost the state's economy.
A Republican-passed tax bill in 2017 opened the area to oil and gas leasing, a key pillar of US President Donald Trump's agenda to expand fossil fuel production.

Published 18 Aug, 2020 01:05am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 19	278.45
USD PKR Interbank Buying / Apr 19	278.15
USD to Japanese Yen / Apr 19	154.37
USD to Swiss Franc / Apr 19	0.91
Pound Sterling to USD / Apr 19	1.24
Euro to USD / Apr 19	1.06

Stock	Volume
S&P 500 / Apr 18	5011.12
Nasdaq / Apr 18	15601.50
Dow Jones / Apr 18	37775.38
India Sensex / Apr 19	72222.48
Tokyo Nikkei / Apr 19	37068.35
Hang Seng / Apr 19	16205.02
FTSE 100 / Apr 19	7834.89
Germany DAX 30 / Apr 19	17717.67

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 18	21735
Gold 10 Grams PKR / Apr 18	214077
Crude Oil USD/Barrel / Apr 19	84.27
Gold Spot USD/Ounce / Apr 19	2382.04
Cotton US¢/pound / Apr 19	80.67
Petrol/Litre / Apr 20	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 20 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 20 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 20 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 20 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 20 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 20 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 20 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 20 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 20 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 20 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 20 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 20 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 20 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 20 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 20 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 20 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 20 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 20 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 20 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 20 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 20 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 20 Telecard Limited(TELE)	12,358,668 ▲ 0.00

Markets →

Calculate your monthly liability in FY24

Crude Oil

Most Popular