oil
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Oil prices fall as market weighs mixed supply signals | The Express Tribune
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[ad_1] LONDON: Oil prices slipped on Thursday in thin trade ahead of a public holiday, as traders weighed a larger-than-expected build in US oil stocks against tightening global supply. Brent futures were down $0.86, or 0.8%, at $107.92 a barrel, while US West Texas Intermediate futures were off $1.1 or 1.1%, at $103.15 a barrel…
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Oil prices extend gains | The Express Tribune
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[ad_1] LONDON/NEW YORK: Oil prices extended gains on Wednesday after Moscow said peace talks with Ukraine had reached a dead end, feeding worries about tight supplies even after US crude stocks rose by more than 9 million barrels. Brent crude was up $1.94, or 1.9%, to $106.58 a barrel by 11:03 AM (1508 GMT) US…
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Credit ceiling raised for oil firms | The Express Tribune
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[ad_1] ISLAMABAD: Banks have revised credit lines for the oil industry to facilitate the import of petroleum products to meet the country’s requirements. Earlier, the Oil Companies Advisory Council (OCAC) – an industry lobby – brought the matter before the State Bank of Pakistan (SBP), asking it to intervene and advise commercial banks to enhance…
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Oil rises on OPEC warning, easing of Covid curbs | The Express Tribune
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[ad_1] LONDON: Oil prices climbed on Tuesday as Shanghai’s relaxation of some Covid-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures rose by $5.51, or 5.6%, to $103.99 a barrel by 1343 GMT while US West Texas Intermediate was…
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Oil drops below $100 on reserve release, lockdowns | The Express Tribune
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[ad_1] LONDON: Oil prices dropped by $4 a barrel on Monday, with Brent crude tumbling below $100 on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. Brent crude for June delivery was down $4.29, or 4.2%, at $98.49 a barrel by 1341 GMT.…
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Oil set for weekly fall on stock releases | The Express Tribune
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[ad_1] HOUSTON: Oil prices were stable on Friday in choppy trading but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks. Brent crude futures were up $0.07, or 0.08%, at $100.67 a barrel by 1442 GMT. US West Texas Intermediate (WTI) crude futures rose $0.3…
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Oil climbs on new Russia sanctions | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Tuesday as Europe announced plans to impose new sanctions on Russian oil imports to punish Moscow over alleged war crimes in Ukraine, raising concerns over tighter global supply. Brent crude was up $1.10, or 1%, to $108.63 a barrel at 1334 GMT. US West Texas Intermediate was up $1.12,…
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Oil jumps 4% as talk of new sanctions surfaces | The Express Tribune
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[ad_1] NEW YORK: Oil jumped about 4% to over $108 a barrel on Monday, as mounting civilian deaths in Ukraine increased pressure on European countries to impose sanctions on Russia’s energy sector, prompting new concerns from market participants around tighter supply. Global benchmark Brent crude was up $3.85, or 3.7%, to $108.24 a barrel by…
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Bold decisions needed to handle oil price shocks | The Express Tribune
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[ad_1] KARACHI: Oil prices were already soaring at the start of the year. The rally was being driven by the jump in demand in the aftermath of recovery from the coronavirus pandemic and tight supplies. The conflict in Ukraine pushed the commodity to above $100 a barrel. Although oil has fallen from recent highs, risks…
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Iraq oil exports jump to 50 year high value | The Express Tribune
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[ad_1] BAGHDAD: Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid shortfall fears following Russia’s invasion of Ukraine, the oil ministry said. The second largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), Iraq exported “100,563,999 barrels for revenues of $11.07 billion,…
