Trends - Oil - Business Recorder

Oil

Brent oil may test resistance zone of $74.47-$74.54

Signals on the hourly chart suggest a pullback towards this former resistance or a consolidation around it.

Published 16 Jun, 2021 11:04am

Markets

Oil up nearly 2pc to multi-year highs on demand expectations

NEW YORK: Oil prices rose nearly 2% to their highest in more than two years on Tuesday, buoyed by expectations ...

Published 16 Jun, 2021 03:39am

Markets

Why is India losing sleep over record high vegetable oil prices?

NEW DELHI: India, the world’s top importer of vegetable oil, will have to spend billions of extra dollars this ...

Published 16 Jun, 2021 03:39am

Markets

Oil up nearly 2pc to multi-year highs on demand expectations

U.S. oil rose $1.24, or 1.8pc, to settle at $72.12 a barrel. It hit a session high of $72.19 a barrel, its highest since October 2018.

Published 16 Jun, 2021 12:10am

Markets

Oil gains as risk of Iran supply resumption recedes

Still, prices were off their highs earlier in the day, with US crude briefly dipping into negative territory.

Published 15 Jun, 2021 12:44pm

Markets

US natgas holds near 7-month high on rising demand

NEW YORK: US natural gas futures held near a seven-month high on Monday as global gas and oil prices continued to...

Published 15 Jun, 2021 03:30am

Markets

Oil steadies after hitting 2-year high as demand hopes face supply growth

NEW YORK: Oil prices ended mostly unchanged on Monday, after hitting their highest levels in more than two years, as...

Published 15 Jun, 2021 03:30am

Business & Finance

FY2021-22: Oil refineries term four clauses of budget 'counterproductive'

ISLAMABAD: The country's oil refineries have termed four clauses of the federal budget 2021-22 as counterproductive,...

Published 15 Jun, 2021 03:30am

Markets

Brent oil may rise into $73.38-$73.80 range

The contract is yet to pull back towards the wedge. The higher it rises, the unlikely this pullback occurs.

Published 14 Jun, 2021 12:50pm

Opinion

In response to J.P. Morgan’s report

This is apropos a J.P. Morgan report carried by the newspaper on Friday. Although publishing reports is JP’s ...

Published 14 Jun, 2021 03:39am

Allocation for defence raised by 6.2percent

ISLAMABAD: Allocation for defence for Fiscal Year 2021-22 has been raised by 6.2 percent, from Rs1.292 trillion in...

Published 12 Jun, 2021 05:04am

Markets

Brent oil may retest resistance at $72.71

On the daily chart, the uptrend remains intact and is extending towards $75, as suggested by a confirmed wedge.

Published 11 Jun, 2021 11:15am

Markets

Oil hits two-year highs

NEW YORK: Oil prices edged up to their highest in over two years in volatile trade on Thursday, on optimism for...

Published 11 Jun, 2021 03:41am

Markets

Palm oil may test support at 3,738 ringgit

A break could trigger a deep drop. A duplicated channel indicates an aggressive target around 3,400 ringgit.

Published 10 Jun, 2021 11:20am

Markets

Brent oil may seek support in $71.38-$71.62 zone

Oil may take some time to fulfil these targets, as its rise is rather slow. Volatility may keep low over the next few weeks as well.

Published 10 Jun, 2021 11:18am

Markets

Oil falls on weak summer kickoff for US fuel demand

NEW YORK: Oil prices slipped on Wednesday after US inventory data showed a surge in gasoline inventories due to weak...

Published 10 Jun, 2021 03:22am

Markets

Gulf markets up as oil prices rise; deals boost UAE, Bahrain

GFH traded 0.5% higher.

Published 09 Jun, 2021 01:13pm

Markets

Oil rises on expectations Iranian supply won’t return soon

NEW YORK: Oil prices settled on Tuesday at the highest in more than two years after the top US diplomat said that...

Published 09 Jun, 2021 03:29am

Markets

Asia naphtha crack extends gains to over 2-month high

SINGAPORE: Asia’s naphtha crack climbed to a more than two-month high of $106.50 per tonne on Monday, its highest...

Published 08 Jun, 2021 04:09am

Markets

Oil prices dip on profit-taking

• US crude touches $70/bbl for first time since October 2018 • Brent hits $72.27, highest since May 2019 •...

Published 08 Jun, 2021 04:09am

Markets

Commodities hedge funds back in vogue after years of outflows

TORONTO: Hedge funds focused on commodities have generated strong returns in 2021 and investors long wary of such...

Published 08 Jun, 2021 04:09am

Markets

Oil eases as investors await Iran nuclear talks this week

Analysts expect Iran, which is having its presidential election on June 18, to increase its production by 500,000 to 1 million barrels per day once sanctions are lifted.

Published 07 Jun, 2021 11:52am

Markets

US oil may rise to $71.28

A projection analysis reveals a higher target zone of $79.68-$84.47.

Published 07 Jun, 2021 11:44am

BR Research

Oily slope

All the international commodities are having a bull run. Oil is no exception and is the most critical commodity...

Published 07 Jun, 2021 07:25am

Markets

Asia Fuel Oil: VLSFO cash discount narrows

SINGAPORE: Asia’s 0.5% very low-sulphur fuel oil (VLSFO) extended gains to a one-month high on Friday after one...

Published 06 Jun, 2021 02:56am

Opinion

Venezuelan oil, masked as Malaysian, rushes into China before fuel tax

Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China,...

Published 05 Jun, 2021 04:08am

Markets

Oil hits two-year high on OPEC+ discipline, demand hopes

NEW YORK: Oil extended gains on Friday, topping $72 a barrel for the first time since 2019, as OPEC+ supply...

Published 05 Jun, 2021 04:08am

Markets

US oil may retreat to $67.57 before rising

On the daily chart, oil has broken a triangle which suggests a target around $75.

Published 04 Jun, 2021 10:55am

Markets

Brent oil may retreat to $69.87

On the daily chart, the break above a resistance at $70.75 turned out to be invalid. The contact could be pulling back towards the uptrend trendline of a wedge.

Published 04 Jun, 2021 10:54am

Markets

Brent oil targets $72.71

Support is at $70.95, a break below could cause a fall into $69.87-$70.41 range. On the daily chart, oil broke a resistance at $70.75.

Published 03 Jun, 2021 12:09pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 24	278.59
USD PKR Interbank Buying / Apr 24	278.39
USD to Japanese Yen / Apr 24	155.21
USD to Swiss Franc / Apr 24	0.91
Pound Sterling to USD / Apr 24	1.25
Euro to USD / Apr 24	1.07

Stock	Volume
S&P 500 / Apr 24	5070.63
India Sensex / Apr 24	73852.94
Tokyo Nikkei / Apr 24	38460.08
Nasdaq / Apr 24	15712.75
Hang Seng / Apr 24	17201.27
FTSE 100 / Apr 24	8040.38
Dow Jones / Apr 24	38460.92
Germany DAX 30 / Apr 24	18088.70

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 23	21035
Gold 10 Grams PKR / Apr 23	213220
Crude Oil USD/Barrel / Apr 24	82.83
Gold Spot USD/Ounce / Apr 24	2318.17
Cotton US¢/pound / Apr 24	81.01
Petrol/Litre / Apr 25	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 25 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 25 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 25 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 25 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 25 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 25 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 25 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 25 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 25 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 25 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 25 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 25 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 25 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 25 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 25 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 25 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 25 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 25 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 25 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 25 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 25 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 25 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 25 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 25 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 25 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 25 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 25 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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