oil
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Oil imports hit record at $2.2b in April | The Express Tribune
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[ad_1] KARACHI: Pakistan’s energy import bill hit a record high at $2.22 billion in April 2022, as the growth in demand was emerging partly from “speculative fuel buying” ahead of the likely decision by the government to increase petroleum prices. The import bill rose 94% in April compared to $1.14 billion for the same month…
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Oil jumps 4% on fears of tightening supplies | The Express Tribune
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[ad_1] NEW YORK: Oil prices rose about 4% on Friday as US gasoline prices jumped to an all-time high and stock markets soared amid fears that supplies would tighten if the European Union bans Russian oil after Moscow sanctioned European units of state-owned Gazprom. Brent futures rose $3.97, or 3.7%, to $111.42 a barrel by…
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Oil rises on supply concerns | The Express Tribune
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[ad_1] WASHINGTON: Oil prices rose on Thursday, reversing earlier losses, as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars. Brent crude rose 46 cents, or 0.4%, to $107.97 a barrel by 1644 GMT. WTI crude rose $1.14, or 1.1 %, to $106.85.…
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Rs118b sought to bear cost of oil price freeze | The Express Tribune
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[ad_1] ISLAMABAD: The Petroleum Division is seeking allocation of Rs118 billion to bear the cost of freezing petroleum prices, which have surged in the global market due to the Russia-Ukraine war. The government has projected subsidy claims of Rs336 billion from oil companies for March-June 2022 as petrol and diesel prices have been left unchanged…
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Oil up as Russia gas flow falls | The Express Tribune
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[ad_1] Oil prices jumped almost 5% on Wednesday after plunging nearly 10% in the previous two sessions, buoyed by supply concerns as flows of Russian gas to Europe fell and the European Union worked on gaining support for a Russian oil embargo. Russian gas flows to Europe via Ukraine fell by a quarter after Kyiv…
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Oil dips below $100 on economic worries, strong dollar | The Express Tribune
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[ad_1] HOUSTON: US crude oil prices dipped below $100 on Tuesday to its lowest in two weeks as demand outlook was pressured by coronavirus lockdowns in China and growing recession risks, while a strong dollar made crude more expensive for buyers using other currencies. US West Texas Intermediate crude fell $3.25, or 3.13%, to $99.85…
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Oil prices tumble over 5% | The Express Tribune
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[ad_1] NEW YORK: Oil prices sank over 5% on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook. Brent crude fell $5.92, or 5.3%, to $106.47 a barrel at 1706 GMT. US West Texas Intermediate crude fell $6.16, or 5.6%, to $103.61 a barrel. Both…
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Oil prices rise more than 1% | The Express Tribune
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[ad_1] HOUSTON: Oil prices rose more than 1% on Friday and were set to rise for a second consecutive week, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply. Brent futures rose $1.43, or 1.3%, to $112.31 per barrel by 1618 GMT, while…
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EU tweaks Russia oil sanctions plan | The Express Tribune
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[ad_1] BRUSSELS: The European Commission proposed changes to its planned embargo on Russian oil to give Hungary, Slovakia and the Czech Republic more time to shift their energy supplies, EU sources said, although failed to reach a breakthrough on Friday. The EU executive set out the embargo this week as part of its toughest-yet package…
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Europe braces for impact of Russian oil sanctions | The Express Tribune
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[ad_1] LONDON: The European Union (EU) has proposed a phased embargo of Russian oil, tightening its sanctions on Moscow for its invasion of Ukraine. What would the impact be of banning Russian barrels in Europe? What does the EU currently import? The EU imported 2.2 million barrels per day (bpd) of crude oil and 1.2…
