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Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,704
724hr
Pakistan Cases
1,283,886
41124hr
0.92% positivity
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475,097
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442,876
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33,471
Islamabad
107,601
KPK
179,888

oil producer

Oil hits 6-week high as Storm Nicholas hits US Gulf
Markets

Oil hits 6-week high as Storm Nicholas hits US Gulf

  • US energy firms brace for another storm amid slow recovery from Ida
  • Over 40% of US Gulf's oil, gas output still shut following Ida
  • IEA sees oil demand rebounding by 1.6 million bpd in October
  • China to auction 7.38 mln bbl of crude from strategic reserves
Published 14 Sep, 2021 05:56pm
Oil steady as China moves to tap oil stocks
Markets

Oil steady as China moves to tap oil stocks

  • China set to tap state oil reserves for the first time
  • Prices supported by lower US output after Hurricane Ida
  • API data shows crude drawdown less than poll expectations
  • EIA cuts 2021 demand outlook, keeps 2022 forecast steady
Published 09 Sep, 2021 08:43pm
Oil steady as US jobs report disappoints
Markets

Oil steady as US jobs report disappoints

  • New Covid variant appears to restrain US job growth
  • US Gulf Coast struggles to recover after storm
  • OPEC+ agrees to boost production
  • Global demand outlook bright on recovery hopes
Updated 03 Sep, 2021 07:50pm
Oil rises on economic recovery hopes, weaker dollar
Markets

Oil rises on economic recovery hopes, weaker dollar

  • Brent crude was up $1.25, or 1.8%, at $72.84 a barrel
  • Crude oil processing will probably take considerably longer to recover from the outages than crude oil production, which suggests that crude oil stocks will increase in the coming weeks," says Commerzbank
Updated 02 Sep, 2021 07:13pm
Oil extends gains despite rise in US inventories
Markets

Oil extends gains despite rise in US inventories

  • Brent crude futures had gained $2.13, or 3.1%, to $71.48 a barrel
  • US crude stocks rose by 806,000 barrels for the week that ended July 16, according to two market sources, citing American Petroleum Institute figures.
Published 21 Jul, 2021 07:18pm
Oil climbs while OPEC+ considers output increase
Markets

Oil climbs while OPEC+ considers output increase

  • WTI rose more than 10% in June, Brent more than 8%.
  • Cushing inventories drop to lowest since March 2020 –EIA.
  • Brent to average $67.48/bbl; WTI $64.54 in 2021 -Reuters poll.
  • OPEC+ to add 2 mln bpd to market in August-December – source.
Published 01 Jul, 2021 06:46pm