Tag Archives: oil

[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, …

[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 …

[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 …

[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 …

[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) …

[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%, …

[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 …

[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, …

[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 – …