[ad_1] NEW YORK: Oil prices sank by about 1% a barrel on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could displace crude barrels. Brent futures for June delivery fell 91 cents to $89.54 a barrel, …
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Iran-Pakistan pipeline: a much-needed lifeline | The Express Tribune
[ad_1] KARACHI: Calling the energy crisis in Pakistan the mother of all crises is not an exaggeration by any stretch. I have iterated the deteriorating effect of the crisis on all factions of society in previous articles as ignoring this elephant in the room is not something we, as a …
Read More »Oil steady as OPEC retains demand forecasts | The Express Tribune
[ad_1] LONDON: Oil prices were little changed on Tuesday as OPEC stuck by its forecast for demand growth this year and next, amid persistent tensions in the Middle East and beyond. Brent futures for May delivery were up 24 cents at $82.45 a barrel by 1420 GMT. The April US …
Read More »Oil rises 1%, heads for weekly gain | The Express Tribune
[ad_1] Oil prices rose on Friday and were on track for gains of almost 7% week-on-week, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent crude futures rose 79 cents, or 0.97%, on the day to $82.42 a barrel by 1446 GMT, while …
Read More »Govt to permit re-export of oil by foreign suppliers | The Express Tribune
[ad_1] ISLAMABAD: The federal government has announced plans to permit the import, local sale, and re-export of petroleum products facilitated by foreign suppliers. This decision, aimed at streamlining trade processes, involves amendments to the Customs Rules, 2001, introducing the Customs Bonded Facilitation Rules, 2024. The Federal Board of Revenue (FBR) …
Read More »Oil steady following strong jobs report | The Express Tribune
[ad_1] LONDON: Oil prices were steady on Monday as a strong US job report which curbed sharp falls last week dampened hopes of swift rate cuts, but a US pledge to continue air strikes in the Middle East kept geopolitical tensions high. Brent crude futures gained 10 cents, or 0.1%, …
Read More »High prices drive down oil demand | The Express Tribune
[ad_1] KARACHI: The demand for petroleum products dropped 7% to 1.24 million tons in December 2023, driven down by elevated prices of petrol and diesel and a significant reduction in consumption of expensive furnace oil in power plants. Citing data of the Oil Companies Advisory Council (OCAC), local research houses …
Read More »Despite reduction, oil prices still higher | The Express Tribune
[ad_1] 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 announcement made on Friday by the Ministry of Finance, …
Read More »Canada oil, gas producers to drill 8% more wells in 2024: Industry group – Times of India
[ad_1] WINNIPEG: Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open, an industry group said in an annual forecast on Friday.Conventional oil production accounts for a small portion – …
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