oil
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Oil steadies near $110 as dollar offsets worries | The Express Tribune
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[ad_1] NEW YORK: Oil prices steadied on Thursday, under pressure from a stronger dollar and a drop in global stock markets while supported by supply worries after the European Union (EU) laid out plans for new sanctions against Russia including an embargo on crude. Brent futures rose 42 cents, or 0.4%, to $110.56 a barrel…
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Oil falls on China growth worries | The Express Tribune
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[ad_1] LONDON: Oil prices fell on Monday as concerns over weak economic growth in China, the world’s top oil importer, overshadowed fears supply might be crimped by a potential European Union ban on Russian crude. Brent crude futures were down $3.23, or 3%, to $103.91 a barrel at 1236 GMT, while US West Texas Intermediate…
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Costly veg oil: a test for Pakistan | The Express Tribune
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[ad_1] BEIJING: As Ukraine and Russia are the top two exporters of sunflower seed oil, the military conflict between them has led to sharp spikes in vegetable oil prices among food commodities. The FAO Vegetable Oil Price Index averaged 248.6 points in March, up 46.9 points from February and hitting a new record high. Pakistan,…
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Oil industry’s PDC to swell by Rs40b | The Express Tribune
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[ad_1] ISLAMABAD: The decision to freeze petroleum product prices is going to add another Rs40 billion to price differential claims (PDC) – the cost of subsidy provided for oil consumers. The government has decided to keep oil prices unchanged for May 1 to 15, providing some relief to the consumers already reeling from double-digit inflation.…
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No further hike in edible oil prices | The Express Tribune
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[ad_1] KARACHI: The PML-N coalition government has assured no further hike in edible oil prices in the local market despite one of the two leading oil producing and exporting countries Indonesia has placed a temporary ban on exports of the commodity across the world. “The country is having enough stocks of the oil which is…
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Oil fluctuates amid supply constraints | The Express Tribune
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[ad_1] Oil prices steadied after trading in and out of the positive territory on Thursday as investors weighed up tightening Russian supplies and the prospect of slowing fuel demand in China. Brent crude futures were down 9 cents at $105.23 a barrel by 1347 GMT while US West Texas Intermediate crude rose 13 cents at…
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Oil prices dip as dollar soars | The Express Tribune
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[ad_1] NEW YORK: Oil prices dipped on Wednesday as a soaring US dollar made barrels more expensive and coronavirus outbreaks in China clouded the economic outlook in the world’s biggest importer of crude oil. Supplies remained tight in the world’s largest oil producer, the US, as government data showed crude stockpiles rose modestly last week…
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Jakarta to lift oil export ban soon | The Express Tribune
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[ad_1] ISLAMABAD: Indonesian Ambassador Adam Mulawarman Tugio on Wednesday said that the Indonesian government had temporarily banned global palm oil exports to regulate domestic markets and provide subsidised edible oil to its population. Talking to APP in an interview, the ambassador said that considering the global trade dynamics and the world supply chain, the decision…
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Germany aims to find alternative to Russian oil | The Express Tribune
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[ad_1] BERLIN: Germany hopes to find a way within days to replace Russian oil with supplies from other sources, Economy Minister Robert Habeck said on Tuesday, adding that Germany could then cope with an EU embargo on Russian oil imports. Under pressure to reduce its dependence on Russian energy, following Moscow’s invasion of Ukraine, Germany…
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Oil rebounds from drop on China demand concerns | The Express Tribune
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[ad_1] LONDON: Oil prices rebounded in volatile trading on Tuesday as the market weighed concerns over Russian supply and Chinese demand. Brent crude futures were up $1.26, or 1.2%, at $103.58 a barrel by 1355 GMT while US West Texas Intermediate contracts were up $1.14, or 1.2%, at $99.68. Brent and WTI had settled about…
