Global oil prices dip amid concerns over Chinese economic growth
Despite this dip, Brent crude oil remains above significant $90 per barrel mark
Despite this dip, Brent crude oil remains above significant $90 per barrel mark
Brent crude futures barely budged, hovering just above the $90-a-barrel mark
These gains followed a remarkable 2% surge on Tuesday, bringing prices to levels last seen in Nov 2022
Oil prices comes on the heels of both benchmarks hitting 10-month highs earlier this week.
In case of approval, price of petrol to increase to Rs321.35
Global interest rate hike expectations and Chinese economic stimulus propel crude prices
Saudi Arabia and Russia extended their production cuts
Brent crude futures experienced increase of 41 cents, or 0.43%, reaching $94.84 per barrel
Pakistan Petroleum Dealers Association chairman says several petrol pumps in Karachi rapidly depleting fuel reserves
Spot gold holds steady at $1,930.51 per ounce, remaining below recent peak reached on Tuesday
Brent crude futures experienced decrease of $1, reaching $93.33 per barrel
Prices had surged by over 10% in the last three weeks
Rising petrol prices in Pakistan: A look at the causes and challenges
Brent crude futures were observed to be down 38 cents, settling at $92.91 per barrel
Surge in prices was driven by expectations of a significant crude supply deficit in the fourth quarter
There may be potential decrease of Rs38 in petrol, Rs18 in diesel prices in Pakistan
Concerns of escalating Middle East conflict loom
Both Brent and WTI crude experienced a more significant drop of over 2%
Oil market experienced a setback last week, with both benchmarks dropping by over 4%
Market appears less preoccupied with the potential for supply disruptions in Middle East
Brent futures slid 72 cents to $80.46 a barrel
Anticipation builds for OPEC+ decision amidst supply-demand concerns
Uncertainties loom over OPEC's effectiveness in stabilizing prices following Angola's decision to exit the organization
Concerns arise as global crude supplies may surpass demand in the coming quarters
Li added that the forecast Chinese holiday demand was also raising expectations for a price rebound in January.
OPEC+ group to meet on Feb.1 to review implementation of the latest oil output cut
Brent crude trades at $78.6 per barrel, WTI at $73.9, marking weekly gains
Growing unease about Chinese and global economies cast a shadow on oil markets
Brent crude slipped by 0.1% to $78.47 a barrel
Geopolitical tensions provide a buffer, but concerns loom over escalating conflicts
Brent crude surges to $82.57 a barrel, WTI reaches $76.95
March Brent crude futures, set to expire today, witnessed a decline of 37 cents
Iran-aligned Houthis continued their attacks on shipping lanes in the Red Se
Brent crude futures nudged up by 15 cents to reach $83.11 a barrel
U.S. West Texas Intermediate crude was at $85.59 a barrel, down $1.32, or 1.5%.
Increase in US crude oil production was notable, rising to 13.15 million barrels per day in February
America says it intends to restock Strategic Petroleum Reserve at $79 per barrel or less
Crude oil prices witness substantial decline over past month, experiencing unprecedented drop of $8 per barrel
Brent ended last week about 2% lower and WTI lost nearly 3% in the week
Hamas political leader Ismail Haniyeh martyred in 'Israeli attack' in Tehran
Brent crude futures for November were up 40 cents a barrel; US crude futures for October were up 32 cents
The US central bank cut interest rates by half a percentage point on Wednesday, suggesting the Fed saw a slowing job market.
Investors weigh conflict, potential disruption in crude flows against amply-supplied global market
On weekly basis, Brent crude gains over 8%, most in a week since Jan 2023. WTI gained 9.1% week-over-week
Global stock markets diverge
Rally began after Iran launched missile barrage on Israel on Oct 1; Israel has sworn to retaliate
Data shows US crude oil stocks rose by nearly 11m barrels last week, much more than expected
200-day average for Brent is at $81.68 a barrel, and for WTI it's at $77.36
Both crude benchmarks settled down on Wednesday, closing at lowest levels since Oct 2 for a second day
Both Brent, U.S. West Texas Intermediate crude futures hit their lowest levels since October
Brent crude futures climbed 44 cents, or 0.6%, to $71.86 a barrel
Brent crude oil futures were up 65 cents, or 0.87%, at $75.57 per barrel
For the week, Brent is set to gain 3.1% while WTI is set to rise 4.1%
Brent crude futures dropped 31 cents, or 0.4%