Tag Archives: CRUDE OIL

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Crude oil, gas discovered in Kohat

09 September, 2019 10:26 pm 10:26 pm

ISLAMABAD (Web Desk) – Oil and Gas Development Company (OGDC) on Tuesday announced that the joint venture of Chanda D&PL has discovered crude oil and gas from its development Well-05, which is located in district Kohat, Khyber Pakhtunkhwa province. According to the APP, a preliminary test identified that the well could produce 76 Barrel per … Read More

China starts to impose additional tariffs on some US goods

09 September, 2019 9:54 am 9:54 am

BEIJING (Reuters) – China on Sunday started to impose additional tariffs on some of the US goods on a $75-billion (61 billion pounds) target list, with effect from 0401 GMT. The extra 5% and 10% tariffs were levied on 1,717 items of a total of 5,078 products originating from the United States. Beijing will start … Read More

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Pakistan receives first shipment of crude oil from Saudi Arabia at Karachi ...

07 July, 2019 9:14 am 9:14 am

KARACHI (92 News) – The first shipment of crude oil from Saudi Arabia has arrived at Karachi port. According to finance ministry officials, Pakistan has started receiving oil supplies from SA on deferred payments under Saudi Fund Facility. According to a press release issued by the Saudi embassy earlier, Pakistan will start receiving monthly oil … Read More

Oil prices tread water as market eyes global geopolitical risks

07 July, 2019 9:45 am 9:45 am

TOKYO (Reuters) – Crude oil prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-US trade war on the global economy, although last week’s better-than-expected US jobs data offered some support. Brent crude futures LCOc1 were down 3 cents by 0300 GMT at $64.20. U.S. West Texas Intermediate … Read More

Crude oil prices drop as global growth fears weigh

07 July, 2019 8:56 am 8:56 am

SYDNEY (Reuters) – Crude oil prices fell on Friday, pressured by concerns over the outlook for global economic growth. US West Texas Intermediate (WTI) crude futures CLc1 were down 1.1 per cent at $56.71 per barrel by 0042 GMT. Front-month Brent crude futures LCOc1 were down 0.1 per cent at $63.23 per barrel, after closing … Read More

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Oil prices extend gains, move further away from five-month lows

06 June, 2019 8:29 am 8:29 am

TOKYO (Reuters) – Oil prices rose around 1% on Friday to move further away from five-month lows hit earlier in the week, buoyed by a report that Washington could postpone trade tariffs on Mexico and signs OPEC and other producers may extend crude supply cuts. Brent crude futures were up 50 cents, or 0.8%, at … Read More

Oil prices climb on OPEC cuts, hopes of US-China trade deal

02 February, 2019 8:38 am 8:38 am

SYDNEY (Reuters) – Oil prices rose on Friday, lifted by OPEC’s supply cuts and hopes the United States and China could soon settle their trade disputes. US West Texas Intermediate (WTI) futures were at $54.10 per barrel at 0133 GMT, up 31 cents, or 0.6 percent, from their last settlement. International Brent crude oil futures … Read More

Oil plunges 6 percent as economic slowdown fears grip market

12 December, 2018 2:32 pm 2:32 pm

NEW YORK (Reuters) – Oil prices plunged more than 6 percent to the lowest level in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market. US crude futures CLc1 and global benchmark Brent LCOc1 hit their lowest levels since 2017 during the … Read More

Blockchain platform goes live for North Sea crude oil trading

12 December, 2018 9:16 am 9:16 am

LONDON (Reuters) – Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. Commodities trading firms have piloted similar schemes in recent years as blockchain technology has the potential to drastically cut costs in an environment of … Read More

Dollar, US yields slide on Fed official rate talk

11 November, 2018 8:57 am 8:57 am

NEW YORK (Reuters) – The US dollar weakened and Treasury yields slid after a top Federal Reserve official said US interest rates were near a neutral rate, while the S&P 500 ended positive after a seesaw session helped by optimism over US-China trade ties. Oil prices steadied but still posted their sixth straight week of … Read More

Oil prices fall one percent amid global stock market slump

10 October, 2018 8:20 am 8:20 am

SINGAPORE (Reuters) – Oil prices fell by around one percent on Thursday, coming under pressure from sharp selloffs in global stock markets, with US stocks posting the biggest daily decline since 2011 to wipe out the year’s gains. Front-month Brent crude oil futures LCOc1 were at $75.42 a barrel at 0043 GMT, 75 cents, or … Read More

Asian shares struggle as European woes, Saudi concerns dim mood

10 October, 2018 8:06 am 8:06 am

TOKYO (Reuters) – Asian shares edged lower on Tuesday as earnings season nerves in the US dented Wall Street, while a cocktail of negative factors from Saudi Arabia’s diplomatic isolation to concerns over Italy’s budget and Brexit talks depressed sentiment. That rolled back some of the previous session’s strong rally led by China stimulus hopes, … Read More

Oil edges up on looming Iran sanctions, but US-China trade war caps gains

10 October, 2018 8:22 am 8:22 am

SINGAPORE (Reuters) – Oil prices edged up on Monday, as markets were expected to tighten once US sanctions against Iran’s crude exports are implemented next month. Front-month Brent crude oil futures LCOc1 were trading at $79.88 a barrel at 0248 GMT, 10 cents above their last close. US West Texas Intermediate (WTI) crude futures CLc1 … Read More

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Dollar at one week high after hawkish Fed minutes; Asia stocks capped

10 October, 2018 8:09 am 8:09 am

TOKYO (Reuters) – Asian stocks were capped and the dollar rose to a one week-high in early Thursday trade after the minutes of the Federal Reserve’s latest meeting showed broad agreement among board members on the need to raise borrowing costs further. The spectre of rising US dollar yields, which along with global trade tensions … Read More

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Oil turns lower as weaker demand outlook weighs

10 October, 2018 8:42 am 8:42 am

NEW YORK (Reuters) – Brent crude futures gave back early gains and turned lower  after the International Energy Agency (IEA) deemed supply adequate and the outlook for demand weakening, while US crude steadied as equities rebounded. The energy watchdog said in its monthly report that the market looked “adequately supplied for now” and trimmed its … Read More