Oil Falls on Bearish US Economic Data
HOUSTON: Oil prices fell 2 percent on Tuesday, reversing previous gains as U.S. consumer prices rose in August. Price giving cover for the U.S. Federal Reserve to deliver another sharp interest rate hike next week. Brent futures for November delivery fell $2.05, or 2.2 percent, to $91.95 a barrel at 11:38 a.m. ET (1638 GMT). […]
The Government Plans the Price of Oil Over the Daily Exchange Rate
ISLAMABAD: The government has decided in principle to change the pricing mechanism. The pricing mechanism is for petroleum products. To reduce its period to cater to the exchange rate of the changing currency and cut the losses of oil trading companies (WTO) and refineries. The government has also committed to the WTO to increase its […]
Oil prices fall as recession fears trump tight supply
Oil prices fell on Monday, continuing last week’s losses. As concerns about slowing global economic growth overshadowed supply shortages. Brent crude futures were down 50 cents, or 0.44%, at $112.62 a barrel at 1429 GMT. The previous month’s prices fell 7.3% last week for their first weekly drop in five. U.S. West Texas Intermediate crude […]