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Oil prices dropped for the third straight session on Tuesday, driven by concerns that a looming trade conflict between the United States and the European Union could slow global fuel demand. As the August 1 deadline for new U.S. tariffs approaches, the fear of reduced economic activity continues to weigh on global oil markets. Market …
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US stock futures showed minimal movement early Tuesday as investors reacted to President Donald Trump’s new tariff threats. Futures tied to the Dow Jones Industrial Average hovered just below the flat line, while S&P 500 futures rose by 0.1%. The Nasdaq 100 futures gained slightly, up 0.2%, as the market absorbed political and global trade …
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Oil market volatility spiked after reports emerged that Israel may be preparing a strike on Iranian nuclear facilities. CNN, citing U.S. intelligence sources, reported that Israel is evaluating military options, sending oil prices sharply higher on Monday. Price Reaction and Market Response West Texas Intermediate (WTI) crude rose by as much as 3.5%, briefly surpassing …
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Oil prices remained stable on Friday, offering some relief after a turbulent week driven by geopolitical tensions and trade concerns. Traders are now watching closely for signs of easing in the US-China trade conflict, a key factor influencing oil prices globally. Market Reaction Ahead of OPEC+ Talks Brent crude fell by 14 cents to $61.99 …
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In a sharp market downturn, crude oil prices tumbled to their lowest levels since the 2021 pandemic. The steep drop was triggered by rising tensions in the global trade war, especially between the United States and China, sparking fears of economic slowdown and reduced demand. China’s Tariff Response Sparks Global Shockwaves On Friday, oil markets …
Continue reading “Oil Prices Plunge to Pandemic-Era Lows Amid Global Trade War Fears”
Consumers should prepare for a possible fuel price hike in the first half of February. Industry sources indicate that petrol, high-speed diesel (HSD), kerosene oil, and light diesel oil may see price increases due to refining costs and government-imposed taxes. Projected Price Increases According to market estimates, petrol prices may rise by Rs1.24 per liter, …
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Oil prices remain under pressure as uncertainty grows over the impact of U.S. President Donald Trump’s proposed tariffs and energy policies on global economic growth and oil demand. Despite recent losses, Brent crude futures edged up 18 cents to $79.18 per barrel, while U.S. West Texas Intermediate (WTI) rose 14 cents to $75.58. Analysts highlight …
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The government has raised fuel prices, with petrol prices increasing by Rs3.47 per litre and high-speed diesel (HSD) by Rs2.61 per litre for the next fortnight. The new rates set petrol at Rs256.13 per litre and HSD at Rs260.95 per litre. This hike comes in response to international market fluctuations over the last two weeks, …
Continue reading “Petrol and Diesel Prices Increased Amid Global Market Fluctuations”
Oil prices fell on Tuesday, extending losses from the previous session. This marks a second consecutive day of decline following last week’s rally. While concerns over tightening Russian and Iranian supply amid Western sanctions helped limit the losses, broader market factors weighed on prices. Brent futures dropped by 8 cents, or 0.1%, to $76.22 per …
Continue reading “Oil Prices Dip as Market Faces Technical Correction and Supply Concerns”
Oil prices increased on Thursday, fueled by supply concerns linked to heightened geopolitical tensions. The ongoing Russia-Ukraine war and developments in the global energy market have played a significant role in this upward trend. Brent crude futures for January delivery rose by 28 cents, or 0.4%, to settle at $73.09 per barrel. Similarly, U.S. West …
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London: Oil prices remained largely unchanged on Thursday, following earlier declines this week due to a stronger U.S. dollar and concerns over rising supply amid sluggish demand growth. At 1203 GMT, Brent crude futures gained 17 cents, reaching $72.45 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 14 cents, settling at $68.57 per …
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Gulf markets displayed mixed performance on Tuesday as investors approached trading with caution ahead of the U.S. presidential election. The anticipation surrounding the election, which sees candidates Donald Trump and Kamala Harris campaigning fiercely in critical states like Pennsylvania, has influenced market sentiment in the Middle East. The U.S. election’s impact on Gulf markets continues …
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The Pakistani rupee showed marginal appreciation against the US dollar on Friday, appreciating by 0.06% during the early hours of trading in the inter-bank market. As of 10 AM, the rupee was valued at 277.68, gaining Re0.17 against the greenback. This uptick marks a positive change after the rupee settled at 277.85 the previous day, …
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ISLAMABAD: A significant decline in global oil prices is set to bring considerable economic relief to Pakistan. The country expects annual energy import savings of $3.0 to $3.5 billion. This development comes as crude oil prices have fallen to a three-year low, dropping below $70 per barrel. Forecasts suggest further decreases, with prices potentially hitting …
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Karachi: Petrol has been made expensive by Rs 2.70 per liter, as the federal government has issued a notification to increase the prices of petroleum products. According to the Prime Minister’s Office, the price of petrol has been increased by Rs 2.70 per liter after which the new price became Rs 111.90 per liter. Related, Petroleum …
Continue reading “Government hikes petrol prices second time in one month”
