KARACHI: The world oil prices witnessed a big cut but our rulers didn’t pass on its benefit to the Pakistani masses, which is highly regretful, said Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday. He said when the world oil prices rise, the local oil prices are increased immediately by the government, but when these prices come down, the…
Read More
Brent futures rise 76 cents, or 1.1%, to $71.34 a barrel\ LONDON: Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping while Chinese economic data fuelled hopes for higher demand. US President Donald Trump launched military strikes against the Houthis on Saturday over the group’s…
Read More
NEW YORK: Oil prices rebounded on Friday after a more than 1% loss in the previous session as investors weighed the diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies to Western markets. Brent crude futures were up 73 cents, or 1.04 %, to $70.61 a barrel at 1:18 p.m. EDT…
Read More
SINGAPORE: Oil prices were little changed on Monday as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows. Brent crude futures dipped 1 cent at $74.73 a barrel at 0740 GMT, while US West Texas Intermediate crude was down 7 cents at $70.67 a barrel. The market continued to keep an eye…
Read More
Oil prices rose on Monday after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, raising fears of supply disruption, though gains were capped by concern over what could be an economically damaging trade war. Brent crude futures rose $1.28, or 1.7%, to $76.95 a barrel by 1232 GMT after touching a high of $77.34. U.S. West Texas…
Read More
Oil prices fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while focus turned to potential U.S. tariffs on Canadian and Mexican imports. Brent crude futures were down 59 cents, or 0.76%, to $77.90 a barrel as of 0916 GMT, while U.S. crude futures had lost 55 cents, or 0.75%, at $73.22. The…
Read More
Oil prices edged higher but remained near a two-week low on Tuesday, as weak economic data from China and rising temperatures elsewhere dampened demand prospects. Supporting prices was a disruption of oil loading operations in Libya. Brent crude oil futures were up 55 cents, or 0.70%, to $77.63 per barrel at 1236 GMT. U.S. West Texas Intermediate crude futures were…
Read More
LONDON: Oil prices rallied more than 4% on Friday to reach their highest levels since October as traders focused on potential supply disruptions from more sanctions on Russia. Brent crude futures gained $3.50, or 4.6%, to $80.42 a barrel by 1422 GMT, reaching $80 a barrel for the first time since Oct.7. U.S. West Texas Intermediate crude futures advanced $3.57,…
Read More
NEW YORK: Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from US crude inventories last week. Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 per barrel. US West Texas Intermediate crude futures rose 98 cents, or 1.4%, to…
Read More
NEW YORK: Oil prices rose more than 1.5% on Tuesday as investors await an OPEC+ meeting expected to rubber stamp continued output cuts while a fragile ceasefire between Israel and Lebanon provided additional support. Brent crude futures rose $1.16, or 1.6%, to $72.99 a barrel by 1346 GMT while US West Texas Intermediate crude was up $1.16, or 1.7%, at…
Read More
