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Crude Oil

Oil extends slump as prospect of second viral wave in U.S. ends rally

West Texas Intermediate was down 65 cents, or nearly 2%, at $35.69 a barrel by 0358 GMT, after slumping more than 8% on Thursday. Brent crude was down 58 cents, or 1.5%, at $37.97 a barrel, having dropped nearly 8% the previous session.

Published 12 Jun, 2020 10:31am

Markets

Oil prices slump as virus-related demand concerns resurface

Brent below $40/bbl; benchmarks set for worst drop since April.
US coronavirus cases rise, stoking recovery fears.
US Federal Reserve warns of long haul to recovery.

Published 12 Jun, 2020 12:28am

Markets

US Gulf offshore oil production down 13pc after Cristobal

Natural gas output from the offshore Gulf of Mexico remained cut back by 9%, or 241 million cubic feet a day (cfd).

Published 11 Jun, 2020 11:23pm

Business & Finance

Oil prices hit by record US crude inventories, bearish Fed

Brent crude futures erased Wednesday's gains, falling 3.6pc, or $1.50, to $40.23 a barrel by 0802 GMT.

Published 11 Jun, 2020 04:20pm

Markets

Oil prices drop on concerns about patchy demand recovery, record U.S. stocks

U.S. West Texas Intermediate (WTI) crude futures erased gains from Wednesday, falling as low as $38.42 a barrel. The benchmark contract was down 2.5%, or 99 cents, at $38.61 at 0211 GMT.

Published 11 Jun, 2020 11:05am

Markets

Oil edges higher, even as U.S. inventory rise revives glut worries

Crude stocks rose by 5.7 million barrels in the week to June 5 to 538.1 million barrels, according to a U.S. Energy Information Administration report.

Published 10 Jun, 2020 11:09pm

Markets

Oil falls as U.S. inventory rise revives oversupply concerns

Brent crude futures fell 59 cents, or 1.4%, to $40.59 a barrel by 0326 GMT after gaining nearly 1% on Tuesday.
West Texas Intermediate (WTI) futures declined 72 cents, or 1.9%, to $38.22 a barrel, having risen about 2% in the previous session.

Published 10 Jun, 2020 11:33am

Oil rises as production curbs offset renewed demand fear

Saudi Arabia to end voluntary additional cuts.
Libya's Sharara oilfield declares force majeure.
Goldman Sachs expects rally to run out of steam soon.
US crude stocks surge in latest week –API.

Published 10 Jun, 2020 01:48am

Markets

Ecuador lifts force majeure on crude output after pipeline restarts

State-run oil company Petroecuador had halted the pipeline last week as a preventative measure against possible environmental damage due to soil erosion in the Amazon region.
The pipeline resumed operations on Monday after Petroecuador finished const

Published 10 Jun, 2020 01:10am

Markets

Heavy discount widens slightly

Little of Canada's production that has been curtailed this year due to low prices has been restored.
Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $9 per barrel below WTI.

Published 10 Jun, 2020 12:06am

Markets

Oil prices rise as easing of lockdowns spurs fuel demand hopes

Brent crude futures rose 0.3%, or 14 cents, by 0435 GMT to $40.94 a barrel. The benchmark contract had fallen $1.50 on Monday, snapping a seven-day streak of gains.
U.S. West Texas Intermediate (WTI) crude futures rose 0.7%, or 26 cents, to $38.45 a

Updated 09 Jun, 2020 03:10pm

Markets

Iraq is fully committed to the OPEC+ cut deal

OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day into July.
Abdul Jabbar said his country is fully committed to cut its production in June and July in compliance with the OPEC+ deal.

Published 09 Jun, 2020 02:40am

Markets

Oil falls 3% despite OPEC+ cuts as Gulf ends voluntary curbs

OPEC+ cuts extended to end-July.
Saudi Arabia, UAE and Kuwait to halt additional cuts.
China's May crude imports hit record 11.3 mln bpd.
OPEC+ cuts for May and June.

Published 09 Jun, 2020 01:45am

Business & Finance

Energy firms prepare to resume US Gulf of Mexico output after storm passes

Royal Dutch Shell Plc, Murphy Oil Corp and BP Plc were among the companies that said on Monday they were starting to resume normal operations and return workers to offshore facilities.
Energy companies typically inspect platforms after a storm passes

Published 09 Jun, 2020 12:58am

Markets

Indian Oil seeks up to 24mn bbls of US crude to diversify imports

The move will help IOC to hedge against unpredictable pricing moves by Middle East producers, a source familiar with the matter said, speaking on condition of anonymity.

Published 08 Jun, 2020 04:15pm

Business & Finance

No shortage of POL in the country

Despite the problems of coronavirus and price issues in the country, the supply of petroleum products is continues unabated.

Published 08 Jun, 2020 12:33pm

Business & Finance

Oil prices inch higher, one-month supply cut extension falls short of market hopes

Brent crude had climbed as high as $43.41 a barrel but by 0239 GMT was trading up just 21 cents, or 0.5%, at $42.51.
U.S. West Texas Intermediate (WTI) crude rose 2 cents, or 0.05%, to $39.57 a barrel

Published 08 Jun, 2020 10:05am

Business & Finance

Libya's NOC confirms production resumed at southern Sharara oilfield

Two engineers from the field told Reuters on Saturday that production at Sharara was gradually restarting after a blockade closed the 300,000 barrel per day (bpd) field for more than four months.

Published 07 Jun, 2020 06:06pm

Markets

OPEC, allies agree to extend deep output cuts through July

Oil prices have plummeted as a result of falling demand as countries around the world impose strict lockdowns to stop the spread of the new coronavirus.

Updated 07 Jun, 2020 12:59pm

Markets

Russia to cut 2020 oil output to 510-520mn tonnes

Novak, speaking shortly after OPEC, Russia and others agreed to extend record oil production cuts until the end of July. *Russia will fully comply with the deal this month, Novak told reporters in Moscow.

Published 07 Jun, 2020 02:03am

Markets

Energy firms shut 33pc of offshore oil output ahead of Storm Cristobal

Companies have evacuated 174 manned production platforms and shut in wells producing 616,000 barrels per day.
853 million cubic feet per day of natural gas at US Gulf of Mexico wells, BSEE reported.

Published 07 Jun, 2020 01:03am

Markets

Production at Libya's Sharara oilfield restarts, engineers say

The restart at the field in southwest Libya followed a rapid military retreat by forces loyal to eastern-based commander Khalifa Haftar.
GNA forces have been advancing from Tripoli towards the south and east as Haftar's forces retreat.
Output at Sha

Published 07 Jun, 2020 12:56am

Markets

OPEC, Russia extend record oil cuts to end of July

Iraq, Nigeria agree to deeper production cuts.
Oil prices have doubled since diving below $20 in April.
Saudi, Russia keen to avoid new US shale oil spike.

Published 07 Jun, 2020 12:52am

Markets

Mexico restates commitment to April accord after OPEC+ talks

Comprising OPEC members and allies led by Russia, the group known as OPEC+ agreed in April to cut supply .
Under that deal, Mexico pledged to reduce its crude output by 100,000 bpd in May and June,
Writing on Twitter, Energy Minister Rocio Nahle sai

Published 07 Jun, 2020 12:35am

Markets

Oil climbs 5pc on US jobless drop, OPEC+ meeting hopes

Brent, WTI gain for sixth week.
Brent has risen 19% this week, WTI up 11%.
OPEC+ to meet Saturday to discuss output cuts - Russia.
US Gulf offshore fields in path of Storm Cristobal.

Published 06 Jun, 2020 02:41am

Business & Finance

Oil rises as traders await OPEC+ meeting on extending supply cuts

Brent crude futures were up 27 cents, or 0.7%, at $40.26 a barrel as of 0620 GMT.
U.S. West Texas Intermediate (WTI) crude futures rose 17 cents, or 0.5%, to $37.58 a barrel.

Published 05 Jun, 2020 12:21pm

Markets

Oil drops on doubts over output cuts, swelling US fuel inventories

OPEC+ failed to agree to hold meeting on Thursday.
OPEC+ may meet this week if laggards agree to comply.
US fuel inventories soar as demand remains impaired.

Published 05 Jun, 2020 12:01am

Business & Finance

Oil drops on US inventories and doubts over output cuts

Brent crude futures eased by 29 cents to $39.50 a barrel by 0839 GMT, heading for its first fall in six sessions.
The volume of oil products traded during S&P Global Platts' Market-on-Close process plunged 74pc in May from a year earlier, data anal

Published 04 Jun, 2020 04:36pm

Business & Finance

POL shortage persists across the country

Due to non-supply from within the country, most of the petrol pumps in Karachi, Lahore, Quetta, and other cities have been closed and those who have petrol available have jacked up their prices.

Published 04 Jun, 2020 11:53am

Business & Finance

Oil prices fall on concerns supply to rise as producers wrangle on cuts

Brent crude futures fell 1%, or 41 cents, to $39.38 a barrel as of 0157 GMT.
U.S. West Texas Intermediate (WTI) crude futures fell 1.6%, or 61 cents, to $36.68 a barrel.

Published 04 Jun, 2020 10:07am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	158.33
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 26	5099.96
India Sensex / Apr 26	73730.16
Tokyo Nikkei / Apr 26	37934.76
Nasdaq / Apr 26	15927.90
Hang Seng / Apr 26	17651.15
FTSE 100 / Apr 26	8139.83
Dow Jones / Apr 26	38239.66
Germany DAX 30 / Apr 26	18161.01

Item	Value
Crude Oil USD/Barrel / Apr 26	83.85
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 26	210048
Gold Spot USD/Ounce / Apr 26	2337.96
Cotton US¢/pound / Apr 26	80.90
Petrol/Litre / Apr 27	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 27 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 27 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 27 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 27 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 27 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 27 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 27 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 27 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 27 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 27 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 27 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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