Brent crude futures settled down $2.71, or 3.41%, to $76.81 a barrel. U.S. West Texas Intermediate crude futures settled down $2.79, or 3.66%, at $73.52. Both benchmarks fell by more than $3 per barrel at their session lows. U.S. job growth slowed more than expected in July and unemployment increased to 4.3%, raising fears of […]
the minister said that Azerbaijan was particularly interested in the mineral sector, including oil and gas. The minister said that the Central Asian country was focusing on the oil and gas exploration sector, noting their keen interest in expanding investments in the LNG sector as well. The prime minister is eager to increase economic cooperation […]
The meeting was presided over by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at the Finance Division, according to a press release issued here. The meeting was attended by the Minister for Petroleum Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of State for Finance & Revenue Ali Pervez […]
Brent crude oil futures fell 28 cents, or 0.3%, to $84.97 a barrel by 0310 GMT. U.S. West Texas Intermediate crude futures dropped 31 cents, or 0.4%, to $80.59 per barrel. Both benchmarks had settled slightly higher on Wednesday. “An expected increase in US inventories of crude oil and gasoline are weighing on the market […]
The Oil and Gas Regulatory Authority (OGRA) had set the official price at Rs234.60 per kg, but the market price has soared to Rs280-285 per kg. Following the price hike, the cost of a domestic LPG cylinder has increased by Rs600, now selling at Rs3,370. Similarly, commercial cylinders are now priced at Rs12,435, up from […]
A stronger greenback makes dollar-denominated commodities less attractive for holders of other currencies. However, both benchmark crude contracts gained about 3% last week on signs of stronger oil product demand in the U.S., the world’s largest consumer, and OPEC+ cuts kept supply in check. U.S. crude inventories fell while gasoline demand rose for the seventh […]
There’s speculation circulating that within the next 15 days, the cost of petrol may increase across the country, pending a decision from the Prime Minister’s office. This decision holds significant sway over adjustments to petroleum product prices. Recent reports from various media outlets indicate a surge in global crude oil prices over the past fortnight. […]
Brent crude futures fell 35 cents, or 0.4%, to $81.27 a barrel by 0419 GMT, while U.S. West Texas Intermediate crude futures (WTI) declined 35 cents, or 0.5%, to $76.14 a barrel as the U.S. dollar (.DXY), opens new tab strengthened. A stronger dollar makes oil more expensive for holders of other currencies. The dip […]
Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy markets. Saudi Aramco committed to spending less this year than it had anticipated; Aramco said it planned to spend about $35 billion in 2021 on […]
