Trends - Crude Oil - Business Recorder

Crude Oil

US oil may fall to $63.88

The uptrend from $33.64 remains unchanged.

Published 07 May, 2021 11:39am

Markets

Brent oil still targets $67.14

Three smaller waves make up the wave 2. Based on the strength of the wave b, the current wave c could be very short.

Published 07 May, 2021 11:36am

Markets

Oil prices fall on worries of pandemic surge in India

NEW YORK: Oil prices settled lower on Thursday, reversing early gains under pressure from rising Covid-19 infections...

Published 07 May, 2021 04:35am

Markets

Oil prices slip despite hefty US inventory fall

India posts record daily infections and deaths.
US crude stockpiles slump after export surge –EIA.

Published 06 May, 2021 09:01pm

Markets

US oil target of $67.98 aborted

Unless oil could quickly reverse the fall on Wednesday and break $66.52, it will be more likely to drop towards $62.62-$63.88 range.

Published 06 May, 2021 12:00pm

Markets

Brent oil may fall more to $67.14

In either case, oil is expected to retrace further over the next few days. Only a rise above $69.87 could confirm the continuation of the uptrend towards $71.38.

Published 06 May, 2021 11:58am

Markets

Oil up 1pc as US oil stocks fall, demand outlook brightens

US crude stocks fall by more than expected – EIA.
Easing restrictions in UK, US boost demand hopes.
US exports, refining output surge in harbinger of more demand.

Published 05 May, 2021 09:09pm

Markets

US oil may rise to March 8 high of $67.98

Support is at $65.88, a break below which could cause a fall into $64.75-$65.45 range.

Published 05 May, 2021 12:25pm

Markets

Brent oil may test resistance at $69.87

The waves on the trend from $35.74 have been relabelled.

Published 05 May, 2021 12:21pm

Markets

Saudi Arabia expected to cut June crude prices for Asia: survey

SINGAPORE: Top oil exporter Saudi Arabia is expected to cut its official selling prices (OSPs) for Asia in June,...

Published 05 May, 2021 04:01am

Markets

PMEX daily trading report

KARACHI: On Monday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 11.598...

Published 05 May, 2021 04:01am

Markets

Oil rises on US, Europe demand growth optimism

Demand boost in US, Europe bolsters sentiment.
Strong US economic outlook, weaker dollar also supportive.
India's soaring COVID-19 infections limit demand outlook.

Published 04 May, 2021 07:53pm

Markets

US oil may revisit April 30 low of $63.08

A downward wave C is developing towards a range of $58.84-$61.37.

Published 04 May, 2021 12:01pm

Markets

Palm oil may retreat into 3,967-4,010 ringgit range

The shallow correction on the hourly chart will be a basic preparation for breaking a resistance at 4,131 ringgit.

Published 04 May, 2021 11:59am

Markets

Brent oil may revisit Monday low of $66.10

The third leg of the correction may have just started.

Published 04 May, 2021 11:57am

Markets

Oil holds near $67 as demand hopes balance India concern

Surge in coronavirus cases hits India's April fuel demand.
OPEC boosts output in April, OPEC+ increase takes effect in May.
Iran nuclear talks in focus.

Published 03 May, 2021 07:51pm

Markets

US oil may fall to $62.33

A retracement analysis reveals that oil has pierced below a support at $63.53. Chances are it may drop to $62.33.

Published 03 May, 2021 12:19pm

Markets

Palm oil may rise into 3,967-4,010 ringgit range

A break below 3,855 ringgit could open the way towards the zone of 3,743-3,805 ringgit.

Published 03 May, 2021 12:18pm

Markets

Brent oil may test support at $66.01

Oil seems to be dropping towards the lower trendline of a rising wedge, which establishes a support around $66.01.

Published 03 May, 2021 12:16pm

Markets

India demand worries, weak Japanese imports knock oil prices from six-week highs

Brent to average $64.17 in 2021-Reuters poll.
Japan's March oil imports fall 25.0 pct y/y – METI.
China's factory activity growth slows in April.
Japan's April manufacturing expands at fastest pace since 2018.
India infections top 18 million.

Published 30 Apr, 2021 08:54pm

Markets

Oil prices to drift higher despite India demand hiccup

Demand growth seen at 5.5-6.5 million bpd in 2021.
Fifth straight upward revision to the 2021 Brent consensus.
Benchmark Brent crude to average $64.17/bbl in 2021.
US crude forecast to average $61.01/bbl this year.

Published 30 Apr, 2021 06:43pm

Markets

Brent oil may test support at $67.66

It will be very difficult for oil to break these resistances. A break may lead to a limited gain to $69.65.

Published 30 Apr, 2021 11:31am

Markets

Forties oil work to drive drop in June Brent benchmark supply

Forties is normally the largest or second-largest of the five crude grades that underpins Brent, loading as many as 15 cargoes in a month. The other four grades are Ekofisk, Oseberg, Troll and Brent itself.
"It's going to be a tiny programme," one of the sources said, adding that the Hound Point terminal where Forties cargoes load would be closed for most of June.

Published 29 Apr, 2021 05:41pm

Markets

Oil prices rise, bullish demand outlook offsets India concerns

US refinery run rates highest since March 2020.
Oil demand could rise to 101.5 million bpd this summer – Citi.
US dollar at nine-week lows.

Published 29 Apr, 2021 05:05pm

Markets

US oil may test resistance at $64.61

The current prediction is oil would fail again to break the zone and then start a correction which is much shallower than the one from $67.98.

Published 29 Apr, 2021 11:30am

Markets

Brent oil still targets April 20 high of $68.08

With the drop from $71.38 having been so much reversed, the current rally looks like a resumption of the uptrend from $35.74.

Published 29 Apr, 2021 11:28am

Markets

Oil prices rise 2pc on fuel demand optimism

US crude stocks edge up, distillate inventories drop –EIA.
Goldman sees surge in oil demand over next six months.
OPEC+ sticks to plan to ease oil output cuts from May 1.
India's COVID-19 death toll surges past 200,000.

Published 28 Apr, 2021 09:12pm

Markets

Oil prices rise as demand outlook offsets COVID worries

OPEC+ sticks to plan to ease oil output cuts from May 1.
Goldman sees surge in oil demand over next six months.
India's COVID-19 death toll surges past 200,000.
Rystad sees 1 mln b/d demand hit in May from India COVID wave.
API shows increase in US crude inventories.

Published 28 Apr, 2021 08:12pm

Markets

Brent oil may revisit April 20 high of $68.08

On the daily chart, oil has edged up above a resistance at $66.15. It may gain more towards $68.14.

Published 28 Apr, 2021 10:42am

Markets

PMEX daily trading report

KARACHI: On Monday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 9.856 ...

Published 28 Apr, 2021 03:18am

Gainers
Losers
Leaders

Stock	Price
786 Investments / Sep 23 786 Investments Limited(786)	8.63 ▼ 0.00 (0.00%)
AL- Abbas / Sep 23 Al-Abbas Sugar Mills Limited(AABS)	301.64 ▼ 0.00 (0.00%)
Agro Allianz / Sep 23 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 23 Allied Bank Limited(ABL)	68.88 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 23 Abbott Laboratories (Pakistan) Limited(ABOT)	741.46 ▼ 0.00 (0.00%)
Abson Ind. / Sep 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Sep 23 Attock Cement Pakistan Limited(ACPL)	138.91 ▼ 0.00 (0.00%)
Adam Sugar / Sep 23 Adam Sugar Mills Limited(ADAMS)	33.41 ▼ 0.00 (0.00%)

Stock	Price
786 Investments / Sep 23 786 Investments Limited(786)	8.63 ▼ 0.00 (0.00%)
AL- Abbas / Sep 23 Al-Abbas Sugar Mills Limited(AABS)	301.64 ▼ 0.00 (0.00%)
Agro Allianz / Sep 23 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 23 Allied Bank Limited(ABL)	68.88 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 23 Abbott Laboratories (Pakistan) Limited(ABOT)	741.46 ▼ 0.00 (0.00%)
Abson Ind. / Sep 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Sep 23 Attock Cement Pakistan Limited(ACPL)	138.91 ▼ 0.00 (0.00%)
Adam Sugar / Sep 23 Adam Sugar Mills Limited(ADAMS)	33.41 ▼ 0.00 (0.00%)

Stock	Volume

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Sep 22	168.70
USD PKR Interbank Buying / Sep 22	168.60
USD to Japanese Yen / Sep 22	109.78
USD to Swiss Franc / Sep 22	0.93
Pound Sterling to USD / Sep 22	1.36
Euro to USD / Sep 22	1.17
UK LIBOR % / Sep 22	0.07

Stock	Volume
S&P 500 / Sep 22	4395.64
India Sensex / Sep 22	58927.33
Tokyo Nikkei / Sep 22	29639.40
Nasdaq / Sep 22	14896.85
Hang Seng / Sep 22	24221.54
FTSE 100 / Sep 22	7083.37
Dow Jones / Sep 22	34258.32
Germany DAX 30 / Sep 22	15506.74
France CAC40 / Sep 22	6637.00

Item	Value
Crude Oil / Sep 22	71.98
Karachi Cotton Assoc. / Sep 22	12880.00
Gold 10 Grams / Sep 22	94700.00
Gold Spot / Sep 22	1767.66
Cotton / Sep 22	90.87

Crude Oil

US oil may fall to $63.88

Brent oil still targets $67.14

Oil prices fall on worries of pandemic surge in India

Oil prices slip despite hefty US inventory fall

US oil target of $67.98 aborted

Brent oil may fall more to $67.14

Oil up 1pc as US oil stocks fall, demand outlook brightens

US oil may rise to March 8 high of $67.98

Brent oil may test resistance at $69.87

Saudi Arabia expected to cut June crude prices for Asia: survey

PMEX daily trading report

Oil rises on US, Europe demand growth optimism

US oil may revisit April 30 low of $63.08

Palm oil may retreat into 3,967-4,010 ringgit range

Brent oil may revisit Monday low of $66.10

Oil holds near $67 as demand hopes balance India concern

US oil may fall to $62.33

Palm oil may rise into 3,967-4,010 ringgit range

Brent oil may test support at $66.01

India demand worries, weak Japanese imports knock oil prices from six-week highs

Oil prices to drift higher despite India demand hiccup

Brent oil may test support at $67.66

Forties oil work to drive drop in June Brent benchmark supply

Oil prices rise, bullish demand outlook offsets India concerns

US oil may test resistance at $64.61

Brent oil still targets April 20 high of $68.08

Oil prices rise 2pc on fuel demand optimism

Oil prices rise as demand outlook offsets COVID worries

Brent oil may revisit April 20 high of $68.08

PMEX daily trading report

Most Popular Articles

PVMA announces cut in ghee, cooking oil prices

THE RUPEE: Up against USD

Low-cost housing

Food ministry blames MoC for wheat price hike

Govt employees given major housing relief

CCoE members reject incentives for refineries

Commodities: FBR concerned at low GST collection