oil
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Oil jumps in volatile trade amid CPC pipeline disruption | The Express Tribune
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[ad_1] LONDON: Oil prices rose in volatile trading on Wednesday, supported by disruption to Russian and Kazakh crude exports via the CPC pipeline. Brent crude futures were up $5.16, or 4.5%, at $120.64 a barrel at 1335 GMT. Prices had earlier fallen to a low of $114.45. US West Texas Intermediate (WTI) crude futures rose…
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Oil dips on embargo uncertainty | The Express Tribune
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[ad_1] LONDON: Oil stumbled on Tuesday as the dollar strengthened and it looked unlikely that the European Union would pursue an embargo on Russian oil, a day after prices jumped 7% and also rose earlier in the session. Brent crude fell $0.73, or 0.6%, to $114.89 a barrel by 11:45 AM EST (1645 GMT). US…
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Oil scarcity lifts import premiums | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is going to face another setback as premiums on oil import have risen sharply due to the shortage of petroleum products, especially diesel, in the global market following the Russia-Ukraine war. According to sources, Pakistan had been paying a premium of 3% to 4.5% on the import of petrol and diesel, but…
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Oil rises towards $116 as EU weighs Russian ban | The Express Tribune
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[ad_1] LONDON: Oil rose towards $116 a barrel on Tuesday, adding to a 7% surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in banning Russian…
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Crude oil jumps more than 6% | The Express Tribune
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[ad_1] HOUSTON: Oil prices soared more than 6% on Monday, with global benchmark Brent crude climbing above $115 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities. Brent rose $7.14, or 6.6%, to $115.07 a barrel by 12:33 PM…
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Saudi ‘not responsible for any oil shortage’ after Houthi attacks | The Express Tribune
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[ad_1] RIYADH: Saudi Arabia said it would not bear responsibility for any shortages in oil supplies to global markets in light after recent attacks by Yemen’s Iran-aligned Houthis on Saudi oil facilities, Saudi state news agency (SPA) reported on Monday. The Houthis fired missiles and drones at Saudi energy and water desalination facilities, causing a…
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India’s oil imports from US to rise | The Express Tribune
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[ad_1] NEW DELHI: India’s oil imports from the United States will rise by 11% this year, officials said on Saturday, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens to fan Indian inflation,…
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Oil prices remain over $100 | The Express Tribune
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[ad_1] LONDON: Oil prices edged higher on Friday, still above $100 a barrel, but were set for a second straight weekly loss, after a volatile trading week with no easy replacement for Russian barrels in a tight market. Brent crude futures rose $0.38, or 0.7%, to $107.02 a barrel by 12:05 PM EST (1505 GMT),…
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Looming oil crisis perturbs senators | The Express Tribune
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[ad_1] ISLAMABAD: The Senate Standing Committee on Petroleum has expressed apprehension about the looming diesel crisis in the country, advising the government to take timely measures in order to prevent any such calamity. In a meeting held on Thursday to review petroleum imports, supplies and pricing strategies in the wake of Russia-Ukraine conflict, the committee…
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Oil surges 7% to over $100 | The Express Tribune
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[ad_1] Oil prices climbed about 7% on Thursday, continuing a series of wild daily swings, as the market rebounded from several days of losses on renewed focus on supply shortages in coming weeks due to sanctions on Russia. Oil benchmarks in recent weeks have experienced their most volatile period since mid-2020. After sliding as buyers…
