Category: Highlights

Brent hits 6-month low on OPEC+ output increase

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Oil prices

NEW YORK: Oil prices fell to multi-month lows on Tuesday after reports of OPEC+ plans to proceed with output increase in April while further price pressure was applied by US tariffs on Canada, Mexico and China as well as Beijing’s retaliatory tariffs. Brent futures were down $1.50, or 2.1%, at $70.12 a barrel by 11:10 a.m. EST (1610 GMT). The session low was $69.75 a barrel, its lowest since September. US West Texas Intermediate (WTI) crude was off $1.19 a barrel, or 1.7%, at $67.18. The benchmark previously dropped to…

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Oil drops $2 after US crude stock build, OPEC+ output increase, Trump tariffs

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Oil prices

HOUSTON: Oil prices declined for a third day on Wednesday after US crude oil stocks posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to proceed with output increases in April, and US President Donald Trump’s tariffs on Canada, China and Mexico escalated trade tensions. Brent futures fell $2.19, or 3.1%, to $68.85 a barrel by 10:49 a.m. EST (1549 GMT). US West Texas Intermediate (WTI) crude declined $2.55, or 3.7%, to $65.71 a barrel. US crude stocks rose more than expected, while gasoline and…

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OPEC February oil output rises as Iran exports keep flowing

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OPEC-Project

LONDON: OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output above its target within the wider OPEC+ group. The Organization of the Petroleum Exporting Countries pumped 26.74 million barrels per day last month, up 170,000 bpd from January’s revised total, the survey showed on Wednesday, with Iran and Nigeria posting the largest gains. OPEC+, which includes OPEC plus Russia and other allies, is keeping production cuts in place through March due to expectations of…

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Inflation Down to Lowest Point in 9 Years Trade & Industry Demands Single-Stroke Cut By 500 bps in Interest RateAtif Ikram Sheikh, President FPCCI

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Atif-Ikram

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that the business, industry and trade community of Pakistan is dissatisfied with the monetary policy as it continues to be based on a heavy premium vis-à-vis core inflation as the State Bank of Pakistan (SBP) announced a grossly-insufficient reduction of merely 100 bps on January 27th in its last Monetary Policy Committee (MPC) meeting. He emphasized the fact that the inflation is at a 9-year low in the country. Mr. Atif Ikram Sheikh maintained that inflation, as per government’s own statistics,…

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Oil prices stable as tariff and Ukraine uncertainty dominates sentiment

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Oil prices

LONDON: Oil prices were little changed on Monday after registering a monthly loss for the first time since November, while investors await the outcome of efforts to end the Russia-Ukraine war and repercussions from U.S. tariffs. Brent crude rose 11 cents, or 0.15%, to $72.92 a barrel by 1105 GMT while U.S. West Texas Intermediate crude was up 3 cents, or 0.04%, at $69.79. Ukrainian president Volodymyr Zelenskiy said on Sunday that he believed he could salvage his relationship with U.S. President Donald Trump. However, he said talks needed to…

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