Brent crude futures settled down 50 cents, or 0.7%, at $68.71 a barrel. US West Texas Intermediate crude futures were down 46 cents, or 0.7%, at $66.52. “The focus has been on Donald Trump. There was some fear he might target Russia with sanctions immediately, and now he has given another 50 days,” said UBS […]
A group of companies, run by Salim Ahmed Said (a man with Iraqi and British nationality), has been secretly buying and selling large amounts of Iranian oil since at least 2020. These companies made the oil look like it came from Iraq by mixing it with real Iraqi oil. This trick helped them avoid international […]
Former U.S. President Donald Trump said that China can now continue buying oil from Iran. He also added that he hopes China will buy more oil from the United States, too. Trump shared this message on his social media platform, Truth Social, just days after ordering airstrikes on three Iranian nuclear sites. A White House […]
PM Shehbaz will chair the meeting, which will also include representatives from the Petroleum Division, Oil and Gas Regulatory Authority (OGRA), Pakistan State Oil (PSO), and refinery officials. The participants will review current stocks of petrol and diesel and future supply prospects. According to sources, the meeting will also consider the impact of fluctuating global […]
The escalation came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump’s tariffs already straining ties. Yet there was no sign of panic among investors as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Oil did add 1% to last week’s 13% surge […]
Brent crude futures jumped $6.29, or 9.07%, to $75.65 a barrel by 0315 GMT after hitting an intraday high of $78.50, the highest since January 27. U.S. West Texas Intermediate crude was up $6.43, or 9.45%, at $74.47 a barrel after hitting a high of $77.62, the loftiest since January 21. Friday’s gains were the […]
Brent crude futures rose 28 cents, or 0.4%, to $67.32 a barrel by 0330 GMT. US West Texas Intermediate crude was up 23 cents, or 0.4%, at $65.52. On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a US-China trade deal. US-China trade talks were set to […]
“Crude oil flowed from the Wara reservoir in the North Wafra (Wara-Burgan-1) well at a rate exceeding 500 barrels per day, with an API gravity of 26 to 27 degrees,” the joint statement said. Kuwait and Saudi Arabia’s announcement marks the first oil discovery since the resumption of production operations in the partitioned zone and […]
Brent crude futures rose 37 cents, or 0.6%, to $65.15 a barrel by 0001 GMT while US West Texas Intermediate crude was up 34 cents, or 0.6%, at $61.87 a barrel. “A nice push higher in crude oil and US equity futures this morning after US President Trump extended the deadline,” IG market analyst Tony […]
In morning trade in Asia, West Texas Intermediate was down 3.8 percent at $56.08 per barrel while Brent North Sea Crude slid 3.5 percent at $59.17. The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply. The […]
