Tag: #OilPrices
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Russia attacks Ukraine, stock markets crash
According to foreign media, after the invasion of Ukraine by Russia, oil prices in the world market have exceeded 100 per barrel. While the price of gold per ounce has risen to 16, the global stock exchanges are also witnessing a sharp decline. Japan, Australia, China, Singapore, and other stock exchanges have fallen by as…
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Tensions in Arab countries, oil prices at 7-year high
Lahore: Rising tensions in the Arab world are also reported to be affecting oil prices, which have reached a seven-year high. According to Arab media, a drone strike was carried out by Houthi rebels at Abu Dhabi airport yesterday in which a Pakistani was killed. Since the attack, the price of oil has risen by…
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Pakistan’s cutting-edge technology can save $1bln in imports bill, $200mln fuel cost
KARACHI: Pakistani startup Energy and Automation (ENA) working under the umbrella of Jaffer Business System (JBS) has introduced an innovative new power backup storage technology named “ENARGEZE SUPERPOWER” that will prove to be a better replacement for (VRLA) dry batteries. Speaking to media, ENA’s Chief Executive Amir Salman, ENA’s Technical Director Osama Javeed and Director…
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Prices of 17 Items Including Sugar, Flour, Chicken Go Up
A weekly report on inflation has been released by the Pakistan Bureau of Statistics, showing the increase in prices and inflation in the recent week. According to the report, inflation continues to rise in the country, increasing by 0.67% in recent weeks. Statistics show that prices of 17 items including sugar, flour, chicken, garlic, beef,…
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Oil prices slip as COVID-19 surge globally
7th December 2020: Oil prices declined on Monday across the world. Baaghi TV: On Monday the oil prices slipped after being high for months following the continued surge in coronavirus cases globally forcing a series of renewed lockdowns. According to reports, Brent crude oil futures were down 21 cents, or 0.4 per cent, at $49.04…
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BP likely to lose $17.5 billion as virus hits demand for oil
British Petroleum (BP) has predicted that oil prices will remain low for decades in the wake of measures taken by various governments to reduce carbon emissions following the coronavirus outbreak. From now until 2050, the average price of a barrel of Brent crude oil will be US$ 55, according to the company. The company has…
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US oil prices rebound above $14 after massive sell-off
US oil prices rebounded above $14 a barrel on Wednesday, a day after a sell-off sparked by a major fund selling its short-term holdings of the commodity amid virus-triggered storage concerns. West Texas Intermediate, the US benchmark, for June delivery jumped 14.5 percent to $14.13 a barrel in Asian morning trade. It had plunged by…
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MBS and Putin at Loggerheads Over Oil Price
A sparking telephonic conversation between two supreme leaders of the Kingdom of Saudi Arabia and Russia took place just after the oil prices spiraled in the global market last month. It is reported that the call between Suadi Crown Prince, Muhammad Bin Salman, and the Russian President, Vladimir Putin degenerated into a shouting match and…
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A New Power Game to Begin: Mubasher Lucman
Lahore, 21st April: Mubasher Lucman in his recent video discloses that a great game is on and the true turn will come in place from May onwards. It is first time in the world history that due to the growing pandemic the oil production has increased and demand has reduced so there is a negative…
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Oil prices extend losses on price war, virus fallout
Singapore, March 16 (AFP/APP): Oil prices extended the gloom on Monday after a Saudi-Russian price war and an equities meltdown sparked by the coronavirus pandemic saw their biggest weekly losses in more than a decade. US benchmark West Texas Intermediate (WTI) briefly fell below $30 a barrel, or 5.5 percent, in morning Asian trade before…