Category: Highlights

Oil prices climb 1% on US crude and fuel stock draw, Venezuela supply worries

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Oil falls

HOUSTON: Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent crude futures gained 82 cents, or 1.12%, to $73.84 a barrel by 12:11 p.m. ET (1611 GMT), their highest since February 27. U.S. West Texas Intermediate crude futures rose 82 cents, or 1.19%, to $69.82 a barrel. Both benchmarks rose more than $1 a barrel during the session. Oil prices…

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Russia’s oil exports from its western ports set to rise 5% in April

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Russia’s daily oil exports from its western ports are set to rise by some 100,000 barrels per day to 1.97 million bpd in April from March as the impact of seasonal domestic refinery maintenance outweighs output cuts under an OPEC+ agreement, Reuters calculations based on data from three sources showed. According to the data, exports and transit of Urals, Kazakh KEBCO and Siberian Light oil from Primorsk, Novorossiisk and Ust-Luga will increase by some 5% in April compared to March. The sources said the growth in shipments next month will…

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Selling pressure at PSX: KSE-100 sheds over 2,000 points

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Selling pressure

Market faces downward pressure amid IMF concerns The Pakistan Stock Exchange (PSX) faced selling pressure on Monday as the benchmark KSE-100 Index lost over 2,000 points, with analysts attributing the downturn to concerns related to the International Monetary Fund (IMF) loan. The market remained under pressure throughout the trading session, dragging the KSE-100 to an intra-day low of 116,257.51. At close, the benchmark index settled at 116,439.62 level, a decrease of 2,002.55 points or 1.69%. “The market faced downward pressure due to IMF concerns over the lack of adjustments to…

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Oil firms as market weighs Iran sanctions and talks over Russia-Ukraine ceasefire

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Oil falls

Oil prices strengthened in choppy trade on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine, which could increase supply of Russian crude to global markets. Brent crude futures rose 32 cents, or 0.44%, to $72.48 a barrel by 1252 GMT. U.S. West Texas Intermediate crude was up 34 cents, or 0.5%, at $68.62. “Crude remains rangebound as traders continued to weigh the impact of new U.S. tariffs, the risk of an economic slowdown, as well as increased…

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Pakistan’s sugar maker to install 200KW solar power plant

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solar energy

Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, has become the latest company to adopt renewable energy, as it announced plans to set up a 200KW solar power system at its facility. The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “We are pleased to inform you that Tariq Corporation Limited (TCORP) has decided to install a 200 KW solar power system, reinforcing its commitment to improve sustainability and operational efficiency. “It is expected to significantly reduce…

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