Day: April 4, 2022

The worst possible time for political chaos is when economic conditions are deteriorating, and the singular focus should be to manage the economy. Unfortunately, economic considerations are on the backburner. One may wonder what is opposition’s imperative to oust IK at this point in time. Foreign reserves are depleting at record pace, and the currency is depreciating drip by drip every day. Stability and clarity are warranted on certain economic issues. That is missing. SBP’s foreign exchange reserves are down by $6.5 billion in the past six weeks. Pak Rupee…

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Asia’s cash premiums for 380-cst high-sulphur fuel oil (HSFO) climbed on Friday, surging to a more than two-year high and posting their second consecutive weekly jump amid strong demand and tight supplies. The cash differentials for 380-cst HSFO surged to a premium of $21.50 per tonne to Singapore quotes, compared with $20.75 per tonne a day earlier. The premiums have more than doubled this week, while Singapore’s onshore fuel oil stocks dropped to a three-month low of 20.9 million barrels, or 3.1 million tonnes, in the week to March 30..…

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Asian spot liquefied natural gas (LNG) prices were relatively stable this week but there was risk to the upside due Russia’s threat to cut off supply to Europe unless payments are made in roubles. The average LNG price for May delivery into north-east Asia LNG-AS was estimated at $35.00 per metric million British thermal units (mmBtu), unchanged from the previous week, industry sources said. Prices had risen to $36.00/mmBtu earlier this week, they added. In Asia, demand remained muted as buyers abstained from spot market purchases until there is more…

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In Q1,crude oil prices continued the long-term bullish trend that began after WTI futures briefly spiked into negative territory in 2020. The US benchmark traded within a neat pitchforkthroughout 2021, registering multiple bounces within its confines.The invasion of Ukraine ultimately sent oil prices into a parabolic rise, however. After reaching a high of 130.50, WTI pulled back sharply towards the pitchfork before attempting another advance. The 2011 high at 114.83 has proven to be the next level of resistance. Price action has stalled there twice in the last four weeks. At the time of writing (25 March 2022), WTI crude oil is on track to end…

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