Trends - Oil - Business Recorder

Oil

Between weak demand and tight supply

Oil is a sensitive commodity; only the fear or anticipation of something moves the needle up or down the prices. The...

Published 29 Mar, 2021 07:40am

Markets

Important kitchen items witness further increase

ISLAMABAD: Sugar, and ghee/cooking oil prices, chicken, fresh milk along with vegetables and fruit have witnessed a...

Published 28 Mar, 2021 04:14am

Markets

Oil jumps 4pc on fears Suez Canal blockage may last weeks

• Shipping rates rise, oil and gas tankers diverted

Published 27 Mar, 2021 05:41am

Markets

US oil may test resistance at $59.78

The bounce from $57.25 consists of three waves.

Published 26 Mar, 2021 11:39am

Markets

Brent oil may rise towards $64.51

The current wave c may travel to $64.51 or a level slightly higher.

Published 26 Mar, 2021 11:36am

Markets

Oil prices drop 4pc as new lockdowns undermine hopes for economic recovery

• Traders shrug off Suez Canal incident • Big gains unlikely until OPEC meeting on April 1 NEW YORK: Oil ...

Published 26 Mar, 2021 05:22am

Markets

PMEX daily trading report

KARACHI: On Wednesday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 9.228...

Published 26 Mar, 2021 05:22am

Markets

Oil falls as demand concerns trump Suez Canal disruptions

India on Wednesday reported its highest one-day tally of new infections and deaths and said a new "double mutant" variant of the coronavirus had been found.

Published 25 Mar, 2021 02:50pm

Markets

US oil may test support at $59.78

The first round of the bounce from $57.25 completed around a resistance at $61.35.

Published 25 Mar, 2021 11:41am

Markets

Brent oil may hover below $64.51

A five-wave cycle from $71.38 ended at $60.27 on Tuesday. Over the next few days, this cycle will be partially or totally reversed.

Published 25 Mar, 2021 11:38am

World

Banks provide $4trn to oil since climate deal: NGOs

PARIS: The world’s leading banks have provided the fossil fuel industry with $3.8 trillion in financing in the ...

Published 25 Mar, 2021 05:08am

World

Anger as UK fails to rule out further North Sea drilling

LONDON: The British government on Wednesday angered environmentalists by saying it could license further oil and gas...

Published 25 Mar, 2021 05:08am

Markets

Oil jumps 6pc after Suez Canal ship grounding

NEW YORK: Oil prices jumped about 6% on Wednesday after a ship ran aground in the Suez Canal, and worries that the...

Published 25 Mar, 2021 05:08am

Markets

Sagging oil price surges 6pc as grounded ship blocks Suez Canal

The gains appeared to stabilize the market that had slumped from early this month, when prices hit their highest levels this year on expectations for demand recovery.

Updated 25 Mar, 2021 12:06am

Markets

Oil steadies, recovery stunded by European lockdowns, US stockbuild

But gasoline stocks fell by 3.7 million barrels, compared with expectations for a build of 1.2 million barrels.

Published 24 Mar, 2021 01:04pm

Markets

Brent oil may fall into $58.41-$59.12 range

The deep drop on Tuesday confirms an extension of the downtrend towards the target zone, which is suggested by a falling channel.

Published 24 Mar, 2021 11:49am

Markets

Asia’s naphtha crack drops

SINGAPORE: Asia’s naphtha crack slipped for a second consecutive session on Tuesday as eastbound arbitrage volumes...

Published 24 Mar, 2021 05:10am

Markets

Oil plunges over 6pc on concerns over Europe curbs, rollouts

NEW YORK: Oil prices fell more than 6 percent on Tuesday, tumbling as concerns over new pandemic curbs and slow...

Published 24 Mar, 2021 05:10am

Markets

Oil plunges more than 6pc on concerns over Europe curbs, rollouts

Nearly a third of France entered a month-long lockdown on Saturday following a jump in cases in Paris and parts of northern France.

Updated 24 Mar, 2021 12:39am

Markets

Oil and shares slide as sanctions, virus fears strike

US, Europe sanctions against China hit shares.
Oil slides 4% amid demand fears.

Published 23 Mar, 2021 08:00pm

Markets

Shares and oil slide as sanctions, virus fears strike

US, Europe sanctions against China hit shares.
Powell to testify on U.S. recovery.
Oil slides 4% amid demand fears.

Published 23 Mar, 2021 07:59pm

Business & Finance

Oil drops on concerns European COVID-19 issues to crimp demand

Brent crude futures for May dropped by 68 cents, or 1.1% to $63.94, erasing a 9 cent gain in the previous session.

Published 23 Mar, 2021 10:21am

Markets

PMEX daily trading report

KARACHI: On Friday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 11.503...

Published 23 Mar, 2021 04:37am

Markets

Oil prices climb

NEW YORK: Oil prices edged higher on Monday after a broad sell-off last week, as market players were hopeful demand...

Published 23 Mar, 2021 04:37am

Markets

Oil steadies after sell-off but European lockdowns hurt outlook for demand recovery

Brent crude was up 6 cents or 0.1pc to $64.59 a barrel by 1:33 p.m. ET (1733 GMT), while U.S. oil for delivery in April fell 22 cents, or 0.4pc, to $61.20 a barrel ahead of expiry.

Published 22 Mar, 2021 11:51pm

Markets

US oil may retest resistance at $61.55

A correction from the March 8 high of $67.98 has completed, as its third component wave labelled c is roughly 1.618 times the length of the wave a.

Published 22 Mar, 2021 11:55am

Markets

Brent oil may stabilize in support zone of $62.71-$63.29

A correction from the March 8 high of $71.38 has completed. It is expected to be further reversed.

Published 22 Mar, 2021 11:53am

Markets

Oil falls as European lockdowns douse recovery hopes

US drillers are starting to take advantage of an earlier spike in prices on optimism about returning demand, adding the most rigs for extracting oil since January in the week through Friday.

Published 22 Mar, 2021 11:43am

World

Jurong Port completes purchase of Lim family’s stake in Universal Terminal

SINGAPORE: Singapore port operator Jurong Port has completed its acquisition of a stake in a major oil storage...

Published 21 Mar, 2021 04:05am

Markets

China’s crude imports from Oman, UAE jump as Iranian barrels fall

BEIJING: China’s crude oil imports from Oman and the United Arab Emirates rose 30% and 61%, respectively, in the...

Published 21 Mar, 2021 04:05am

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 28	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 28 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 28 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 28 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 28 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 28 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 28 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 28 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 28 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 28 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 28 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 28 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 28 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 28 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 28 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 28 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 28 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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