oil
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Oil surges massively amid US, UK strikes on Houthis — What does it mean for petrol prices?
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Yemenis wave flags and chant slogans during a pro-Palestinian march in the Houthi-controlled capital Sana’a on December 8, 2023. — AFPWhile equities increased on Friday due to US inflation data that supported investors’ belief that interest rates could soon drop,…
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Despite reduction, oil prices still higher | The Express Tribune
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KARACHI: Hyderabad Chamber of Small Traders and Small Industry President Muhammad Farooq Shaikhani has praised the government’s decision to reduce petroleum product prices, stating that this step will help mitigate the wave of inflation in the country. He said the…
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Saudi Arabia’s oil giant Aramco to invest in Pakistani company
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A view of the Saudi Aramco oil facility. — AFP/File ISLAMABAD: In a major development, Saudi Arabia’s oil giant Aramco on Tuesday signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd (GO), making its…
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Saudi Aramco to buy 40% stake in major Pakistani oil company | The Express Tribune
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KARACHI: Saudi Arabia’s Aramco Tuesday signed an agreement to acquire a 40% equity stake in a Pakistani gas and oil company, said a statement from the Saudi company. Aramco Executive Vice President of Products & Customers Yasser Mufti, Chief Executive…
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Oil prices fall amid US production, China energy concerns
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An oil plant located in the United States. — AFP/File In response to indications of increased production in the US and prospects of poor energy demand in China, investors in New York responded by sending oil prices down more than…
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Shell to sell majority stake in Pakistan unit to Saudi oil firm
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A view of a closed petrol pump due to fake news of petrol price hike again in the country. — Online/File Shell Pakistan said its parent company’s unit, Shell Petroleum Company, has signed a deal to sell its 77.42% majority…
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World Bank sees oil prices hitting $157 if Israel-Hamas war spills over
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A Palestinian man uses a fire extinguisher to douse a fire following an Israeli strike, in Khan Yunis in the southern Gaza Strip on October 14, 2023. — AFP If the war between Israel and Hamas spreads throughout the Middle…
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Weekly inflation eases 1.7% over oil price fall | The Express Tribune
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ISLAMABAD: Owing to the reduction in prices of petroleum products in line with global trend and the fall in dollar rate in the wake of a crackdown on currency smugglers and hoarders, the inflation rate has come down in Pakistan,…
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Israel-Hamas war: Oil prices rise, global stocks fall as humanitarian crisis worsens in Gaza
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A Palestinian youth looks for salvageable items amid the rubble of the Kuhail building, which was destroyed in an early morning Israeli airstrike on Gaza City on Tuesday. — AFP Oil prices rose and global stocks largely fell on Wednesday,…
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Oil surges 2% amid US storage draw | The Express Tribune
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NEW YORK: Oil prices climbed about 2% to a two-week high on Wednesday on a bigger-than-expected US storage draw and as rising tensions in the Middle East threaten to disrupt oil supplies from the region, with Iran calling for an…
