Brent crude futures were up $1.80, or 1.5%, at $121.52 a barrel at 2319 GMT. OPEC+ agreed to accelerate output increases over the next two months. U.S. West Texas Intermediate (WTI) was also up 1.4% at $120.50 a barrel. Oil costs rose more than $2 in early exchange on Monday after Saudi Arabia raised costs … Read more
WASHINGTON: The uncertainty created by Russia’s invasion of Ukraine and its impact on the global economy is piling more complexity onto the US central bank’s already tough fight to contain rising prices. Soaring energy and food costs have pushed inflation in the world’s largest economy to the highest pace in four decades, and the Federal … Read more
KARACHI: The board of directors of Pakistan Refinery Limited (PRL) has decided to undertake refinery expansion and upgrade project (REUP), a bourse filing said on Tuesday. The objectives of the project is to produce Euro V compliant high-speed diesel (HSD) and motor spirit (MS/petrol) to comply with the requirements, and the expansion of crude processing … Read more
The huge downfall in oil markets is observed on today (April 20). According to the details, US oil price rushed 94%, decreasing as low as $1 per barrel. The sources said that this is the lowest since New York Mercantile Exchange (NYMEX) introduced oil futures trading in 1983. The managing director at Fathom Consulting Erik … Read more
Oil prices in international market continued to surge on Monday as tensions escalate between the United States and Iran. US media reported, Oil prices in international market continued to surge, the global benchmark, gained 2.4% to reach $70.24 per barrel. This is the first time prices have hit that amount in more than six months. … Read more
