Tag: Brent Crude
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Oil prices drop again on concerns over China’s economic changes
In the wake of growing apprehensions over reduced oil consumption in China, a key player in the global oil market, oil prices witnessed a consecutive decline for the second day.
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Pakistani rupee extends winning streak against US dollar for 12th straight session
The Pakistani rupee continued its upward trend against the US dollar for the 12th consecutive session, appreciating by 0.1 per cent in the inter-bank market on Thursday.
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Petrol price may go down by Rs7.24 to Rs230.19 per liter
According to industry projections, the ex-depot cost of petrol has declined by Rs7.24 per litre to Rs230.19 per litre for the upcoming fortnight from the current price of Rs237.43 per litre, as reported by The News. Considering recent reports, this might lead to a fall in the price of petrol by Rs7.24 per litre and…
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Global oil prices climb to highest in three weeks
Oil prices increased on Monday as fears of limited global supply intensified, with the developing crisis in Ukraine raising the risk of more penalties from the West against Russia, the world’s leading exporter. Brent futures were up $1.50, or 1.3 per cent, at $113.20 a barrel, while US West Texas Intermediate futures were up 98…
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PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30
Pakistan’s new Prime Minister (PM) Shehbaz Sharif on Friday dismissed the proposal from the Oil and Gas Regulatory Authority (OGRA) to raise the price of petroleum products for the fortnight. The recent decision is aimed at providing relief to the public affected by inflation. It is worth noting that the present government’s choice to maintain the…
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Oil prices jump following Russia’s biggest production decline
Oil prices rose on April 13, after concerns that declining output in sanctions-hit Russia may affect supply, following the Russian announcement that peace negotiations to stop its invasion of Ukraine had reached a stalemate. Consequently, Brent crude futures were up 59 cents, or 0.6 per cent, to $105.23 a barrel, while West Texas Intermediate (WTI)…
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International oil prices declined by 4%, crashing below $100 per barrel
Brent crude slid below $100 for the first time since March 16 amid plans to release huge amounts of petroleum and oil products from strategic storage, and also China’s prolonged coronavirus closure. Crude oil was down $4.1, or 3.99 per cent, at $98.68 per barrel. The price of US West Texas Intermediate (WTI) crude fell…