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oil market

Oil rises but remains rangebound as COVID-19 cases soar

However, the crude prices have remained rangebound in the past three weeks, with Brent between $60 and $65 a barrel and WTI at $57 to $62.
"Oil prices are entering a consolidation phase after swinging wildly last month," said oil broker PVM's Stephen Brennock.

Published 12 Apr, 2021 05:59pm

Markets

Oil rebounds on robust economic data, bargain hunting

Oil slumps over 4% in previous session on rising OPEC+ supply.
Strong US, China economic data support investor sentiment.
US expects 'difficult' Iran talks, sees no quick breakthrough.

Published 06 Apr, 2021 01:10pm

Business & Finance

BP expects to hit $35 billion net debt target in first quarter

The company, which had a debt pile of $39 billion at the end of 2020, had earlier expected to reduce its debt to $35 billion around the fourth quarter of 2021 or first quarter of 2022.
The London-based company said on Tuesday it expects sale proceeds in 2021 to be at the top end of its existing $4 billion to $6 billion range.

Published 06 Apr, 2021 12:11pm

Markets

US oil production to start rising in second quarter

LONDON: US crude oil production has stabilised and is set to start rising again, after the massive shock last year...

Published 04 Apr, 2021 04:12am

Markets

Oil up as OPEC+ meets to decide on production policy

OPEC+ deliberates about rollover or hike, sources say.
OPEC+ meeting is scheduled to start at 1300 GMT.
Euro zone factory activity soared in March.

Published 01 Apr, 2021 05:17pm

Markets

Oil falls as Suez opens, focus turns to OPEC+ output

Brent crude was down $1.02, or 1.6%, at $63.96 a barrel by 1334 GMT. West Texas Intermediate US oil was off by $1.16, or 1.9%, at $60.40 barrel.
"The wobble we have seen in prices means that OPEC+ will likely need to take a cautious approach once again," bank ING said. "We are of the view that the group will likely hold output levels unchanged."

Published 30 Mar, 2021 09:07pm

Markets

Oil market rebounds on Suez ship warning

Traders remain on tenterhooks because the canal is one of the most important routes for global trade and crude shipments.

Published 29 Mar, 2021 07:52pm

Markets

Oil rises on hopes for stable OPEC+ output, fears of long disruption at Suez Canal

Brent oil rose 58 cents, or 0.9%, to $65.15 a barrel.
Both contracts had fallen more than $1 earlier in the session.
The huge container ship blocking Egypt's Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said.

Published 29 Mar, 2021 06:13pm

Markets

Oil prices drop as demand concerns outweigh Suez disruption

Suez Canal suspends traffic, efforts to dislodge ship continue.
Prices fall as demand concerns dominate.
Big gains unlikely until OPEC meeting on April 1 – analyst.

Published 25 Mar, 2021 08:22pm

Markets

Oil drops as demand concerns outweigh Suez Canal disruptions

Suez Canal suspends traffic, efforts to dislodge ship continue.
Prices fall as demand concerns dominate.
Big gains unlikely until OPEC meeting on April 1 – analyst.

Published 25 Mar, 2021 05:19pm

Markets

Oil prices steady after sell-off driven by demand fears

Brent crude was up 2 cents at $63.30 a barrel.
WTI US crude rose 15 cents, or 0.3%, to $60.15. Both traded within a wide range of more than $2 a barrel on Friday.

Published 19 Mar, 2021 06:22pm

Markets

Oil slips further on Europe demand concerns

API report shows surprise drop in US crude inventories.
No policy shift expected by US Federal Reserve.
IEA says demand won't reach pre-pandemic level until 2023.

Published 17 Mar, 2021 08:31pm

World

U.S. becomes India's second biggest oil supplier, Saudi plunges to No. 4

he United States overtook Saudi Arabia as India’s second biggest oil supplier after Iraq last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts, data from trade sources showed.
India’s imports from the United States - the world’s top producer - rose 48% to a record 545,300 bpd in February from the prior month, accounting for 14% of India’s overall imports last month.

Published 15 Mar, 2021 04:08pm

Markets

Oil surges $2 after OPEC+ extends output cuts

Saudi Arabia surprises with continued voluntary cuts.
OPEC+ producers keep curbs, agree only small output boost.
Decision could affect oil inventories into 2022.
Brent and WTI on track for weekly gains.

Published 05 Mar, 2021 08:28pm

Markets

Oil slips on fears over higher OPEC supply, slower China demand

OPEC+ meets on Thursday to discuss output.
OPEC output drops in Feb on additional Saudi cut –survey.
China's weak factory activity raises fears over slow oil demand.

Published 02 Mar, 2021 06:05pm

Markets

Oil jumps on vaccine optimism, US stimulus

US House passes $1.9 trillion COVID-19 relief plan.
China Feb factory activity growth drops.
Euro zone factories buzzing in Feb as demand soars.
OPEC+ meets on Thursday to discuss output.

Published 01 Mar, 2021 05:51pm

Markets

Oil drops on dollar strength and OPEC+ supply expectations

Rout in bond markets sends yields soaring.
Market expects increased oil supply.
OPEC+ producers meet on March 4.
Brent and WTI on track for 20% monthly gain.

Published 26 Feb, 2021 08:07pm

Markets

Oil prices rise with storm-hit US output set for slow return

Brent crude was up 49 cents, or 0.8%, at $63.40 a barrel.
"With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low," ANZ Research said in a note.

Published 22 Feb, 2021 08:02pm

Markets

Oil prices rise with storm-hit US output set for slow return

Brent crude was up 51 cents, or 0.8%, at $63.42 a barrel.
"With three-quarters of fracking crews standing down, the likelihood of a fast resumption is low," ANZ Research said in a note.

Published 22 Feb, 2021 07:17pm

Markets

Oil extends losses as Texas prepares to ramp up output

Texas oil firms prepare for production restart.
Oil demand outlook weakened by US refinery deep freeze outages.
US-Iran relations thaw but 'long road' ahead.

Published 19 Feb, 2021 08:17pm

Markets

Saudi Arabia set to raise oil output amid recovery in prices: WSJ

Saudi Arabia is expected to announce its plans when a coalition of oil producers meets next month, according to the WSJ report, adding that the output rise won't kick in until April.

Published 17 Feb, 2021 07:49pm

Markets

Oil hits 13-month highs as market re-balances

Prices rally as producers rein in supply.
Brent, WTI hit highest levels since January 2020.
US stimulus hopes, tighter supplies support rally.
Possible strike could hit Norway's crude production.

Published 15 Feb, 2021 07:12pm

Markets

Oil market on recovery path, says Russia’s Novak

MOSCOW: The global oil market is on a recovery path and the oil price this year could average $45-$60 per barrel,...

Published 15 Feb, 2021 04:53am

Markets

IEA says oil market fragile, cites virus restrictions

The IEA said it had left its 2021 global oil demand forecast unchanged, at 96.4 million barrels per day (mbd), which represents a gain of 5.4 mbd over 2020.

Published 11 Feb, 2021 05:50pm

Markets

Oil extends rally to fresh 13-mth highs

NEW YORK: Oil prices extended their rally for a seventh session on Tuesday to hit fresh 13-month highs, supported by...

Published 10 Feb, 2021 04:12am

Markets

Oil gives up early gains, but Brent stays over $60/bbl

Brent, WTI futures hit highest since January 2020.
Both contracts had risen for 6 straight sessions.
US crude, gasoline stockpiles up last week - Reuters poll.

Published 09 Feb, 2021 06:03pm

Markets

Oil hits highest in a year on growth hopes, OPEC+ cuts

Brent hits highest since Feb 2020.
OPEC+ maintains policy aimed at tightening supply.
US crude stockpiles fall to lowest since March.

Published 05 Feb, 2021 08:40pm

Markets

Oil hits highest in a year on growth hopes, OPEC+ cuts

Brent hits highest since February 2020.
OPEC+ maintains policy aimed at tightening supply.
US crude stockpiles fall to lowest since March.

Published 05 Feb, 2021 05:46pm

Markets

Oil prices gain as inventories fall and demand picks up

Positive risk sentiment boosts prices, says UBS analyst.
Goldman Sachs sees oil price rising to $65 by July.
OPEC oil output rose in January, but less than forecast.

Published 01 Feb, 2021 07:04pm

Markets

Iraq's oil exports rise to 2.868mn bpd in January

Exports from Iraq's southern Basra terminals reached 2.77 million bpd in January, up from 2.75 million bpd the month before, the ministry added.
Rising oil prices boosted Iraq's January oil revenue, its main income stream, to about $4.74 billion with an average price per barrel of $53.294.

Published 01 Feb, 2021 06:26pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 10	278.14
USD PKR Interbank Buying / May 10	277.97
USD to Japanese Yen / May 10	155.78
USD to Swiss Franc / May 10	0.91
Pound Sterling to USD / May 10	1.25
Euro to USD / May 10	1.08

Stock	Volume
S&P 500 / May 10	5222.68
India Sensex / May 10	72664.47
Tokyo Nikkei / May 10	38229.11
Nasdaq / May 10	16340.87
Hang Seng / May 10	18963.68
FTSE 100 / May 10	8433.76
Dow Jones / May 10	39512.84
Germany DAX 30 / May 10	18772.85

Item	Value
Crude Oil USD/Barrel / May 10	78.26
Karachi Cotton PKR/37.32 KG / May 10	19935
Gold 10 Grams PKR / May 10	205075
Gold Spot USD/Ounce / May 10	2360.50
Cotton US¢/pound / May 10	77.31
Petrol/Litre / May 11	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 11 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 11 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 11 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 11 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 11 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 11 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 11 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 11 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 11 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 11 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 11 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 11 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 11 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 11 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 11 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 11 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 11 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 11 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 11 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 11 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 11 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 11 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 11 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 11 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 11 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 11 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 11 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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