Day: August 27, 2025

US natural gas extends losses

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NEW YORK: US natural gas futures fell for a third straight session on Tuesday, as mild weather forecasts and ample supplies kept pressure on the market. Front-month gas futures for September delivery on the New York Mercantile Exchange fell 1percent to USD2.80 per million British thermal units at 10:03 a.m. EDT (1403 GMT). The contract fell on Monday to its lowest since November 4, 2024. Analysts said prices remained under pressure with weather trends pointing to limited demand and little fundamental support for a sustained rebound. Financial firm LSEG estimated…

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Oil ticks up on US crude stocks drop, impact of US tariffs on India

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Oil price

HOUSTON: Oil prices edged higher on Wednesday on a larger-than-expected drop in U.S. crude inventories and the potential impact of new U.S. tariffs on India. Brent crude futures were up 43 cents, or 0.6%, at $67.65 a barrel by 10:58 a.m. ET (1458 GMT). West Texas Intermediate crude futures gained 50 cents, or 0.8%, to $63.77. Both contracts fell by more than 2% on Tuesday. U.S. crude inventories dropped by 2.4 million barrels to 418.3 million barrels last week, the Energy Information Administration said, compared with analysts’ expectations in a Reuters poll…

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Pakistan plans to use solar to power Gwadar Port

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Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, on Wednesday said that efforts are underway to implement solar-based solutions for Gwadar Port, a key part of the multi-billion-dollar China-Pakistan Economic Corridor (CPEC) initiative. The federal minister announced the development during a meeting on the port’s operationalisation, attended by Chairman Gwadar Port Authority (GPA), Noorul Haque Baloch, Chairman of Chinese company COPHCL, My Yu Bo, along with Additional Secretary of the Ministry of Maritime Affairs, Umer Zaffer Shaikh, and others, read an official statement. During the meeting, the minister confirmed…

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Experts sceptical of Trump’s claim of ‘massive’ oil reserves in Pakistan: Bloomberg

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Despite renewed interest from major US companies in Pakistan’s energy sector, industry experts have cast doubt on claims of “massive” reserves touted by US President Donald Trump, pointing to decades of limited discoveries, foreign exits, and persistent challenges in exploration, reported Bloomberg on Wednesday. Last month, Trump said that his administration struck a deal with Pakistan in which Washington would work with Islamabad in developing the South Asian nation’s oil reserves. “We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on…

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India hopeful US will review extra 25% tariff for Russian oil purchases, Indian government source says

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Russian-oil

NEW DELHI: India is hopeful that the U.S. will review the additional 25% tariff imposed on Indian goods as penalty for its Russian oil purchases, a government source told reporters on Wednesday. India’s Russian oil gains wiped out by Trump’s tariffs The Indian government is holding talks with exporters to increase shipments of textiles, leather, gems and jewellery to other countries, and is likely to provide financial assistance to affected businesses, the source said.

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