oil
-
Oil steadies from decade highs as Iran talks kindle hopes | The Express Tribune
.
[ad_1] HOUSTON: Oil steadied after hitting prices not seen in roughly a decade on Thursday, as sellers jumped in on hopes that the United States and Iran will agree soon to a nuclear deal that could add barrels to a badly undersupplied market. Trade was volatile, however, as investors anticipate ongoing disruption to worldwide oil…
-
Oil prices inch closer to $120 as supply tightens | The Express Tribune
.
[ad_1] LONDON: Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions. Support also came from US crude stockpiles at multi-year lows, helping to lift Brent crude futures as high as $119.84 a barrel for the highest level…
-
Oil, gas demand remains robust | The Express Tribune
.
[ad_1] KARACHI: Although the demand for petroleum products and gas remained robust in the domestic economy and households of Pakistan, the output of crude oil and gas from domestic fields has declined, enhancing the nation’s reliance on expensive imported fuels. “Total petroleum sales settled at 1.54 million tons in February 2022, showing a year-on-year increase…
-
Saudi oil facility to come into effect this month | The Express Tribune
.
[ad_1] ISLAMABAD: The energy woes of Pakistan are likely to ease as first oil tanker under the Saudi Arabian oil credit facility is expected to reach Pakistan in the third week of March. In a meeting with a Saudi Arabian delegation on Wednesday, Federal Minister for Economic Affairs Omar Ayub Khan acknowledged the timely start…
-
Oil tops $110, equities sink on rising Ukraine war fears
.
[ad_1] Brent topped $110 for the first time since 2014, while WTI moved closer to that figure.- The News/File HONG KONG: Crude surged past $110 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Vladimir Putin’s invasion of his neighbour…
-
Oil spikes past $110 as markets avoid Russian supply | The Express Tribune
.
[ad_1] LONDON: Oil prices surged to seven-year highs on Wednesday as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sources in an already tight market. Brent crude futures gained $5.30, or 5%, to $110.23 a barrel at 0419 GMT, a level…
-
Oil rises 9% as reserve release disappoints | The Express Tribune
.
[ad_1] NEW YORK: Oil prices surged 9% on Tuesday, as a global agreement to release crude reserves failed to calm fears about supply disruptions from Russia’s invasion of Ukraine, and instead underscored concerns about growing disruptions. Members of the International Energy Agency (IEA), which include the United States and Japan, agreed to release 60 million…
-
Banks reluctant to open LCs for oil import | The Express Tribune
.
[ad_1] KARACHI: The Oil Companies Advisory Council (OCAC) has once again approached the State Bank of Pakistan (SBP) governor, requesting him to intervene following reluctance of banks to open Letters of Credit (LCs) for oil import in the wake of rapidly rising crude prices. The oil industry group, comprising refineries and oil marketing companies (OMCs),…
-
Oil prices soar as Ukraine conflict stokes supply concerns | The Express Tribune
.
[ad_1] LONDON: Oil prices surged on Tuesday as concerns over supply disruptions after Russia’s invasion of Ukraine and related sanctions outweighed talks of a coordinated global crude stocks release. May Brent crude futures were up $5.14, or 5.25%, to $103.11 a barrel by 1145 GMT. The benchmark touched a seven-year high of $105.79 after the…
-
Oil soars as Russian energy supply fears intensify | The Express Tribune
.
[ad_1] LONDON: Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports. Brent crude rose $4.82, or 4.9%, to $102.75 by 1028 GMT after touching a high of $105.07 a barrel in early…
