POL prices likely to slash by Rs. 5.45 per liter

ISLAMABAD: Prices of POL products are likely to be reduced up to Rs. 5.45 per liter from July 1 (tomorrow), TrendPK reported on Thursday.

According to sources, it is expected that total 6.3 percent reduction will be made in the petroleum products prices.

It is expected that petrol price will be cut by Rs. 5.45 per liter, high speed diesel by Rs. 3.99, light diesel by Rs. 1.13, high-octane by Rs. 3.85 and kerosene oil by Rs. 1.85 per liter.

The sources added that due to one percent cut in GST and reduction in crude oil’s prices in international market the authorities are set to give some relief to the POL products’ consumers in the country. TrendPK

Gold, silver, oil down as dollar gain

Gold, silver and crude oil recorded downward trend in the wake of the improvement in dollar in international markets on Monday.
Crude oil shed three percent prices within two days in international markets, gold two percent while silver declined 4 percent. Oil is down by another 70 cents and traded at 80.56 cents. Gold is sold at $1360 per ounce and silver stood at $23.93. Dollar is up by 0.4 percent against other currencies.

Gold, silver, oil down as dollar gain

Gold, silver and crude oil recorded downward trend in the wake of the improvement in dollar in international markets on Monday.
Crude oil shed three percent prices within two days in international markets, gold two percent while silver declined 4 percent. Oil is down by another 70 cents and traded at 80.56 cents. Gold is sold at $1360 per ounce and silver stood at $23.93. Dollar is up by 0.4 percent against other currencies.

Gold, Silver and Crude Oil prices plummet internationally

After a continuous increase for so many days, international gold, silver and crude oil prices have come down.
A two percent decrease was witnessed in the price of crude oil in international market at the end of last business week whereas gold prices plummeted by 1 percent along with a decrease of 1.6 percent in the silver prices.
Crude oil prices ended at 81.25 dollars at the business weekend in New York Market, after a decrease of 1.44 cents.
Per ounce gold prices reduced by 5.60 dollars to reach 1372 dollars whereas the Silver prices decreased by 15 cents to reach 24.69 dollars.

Petraeus arrives in Kabul

KABUL: Gen David Petraeus arrived in Kabul to take over from Gen Stanley McChrystal as head of US and NATO forces in Afghanistan, beginning a new phase in the war there at a time of thriving insurgency and ineffective governance.

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Petraeus arrives in Kabul

Muzaffarabad:13 killed as coaster falls in ditch

MUZAFFARABAD: A coaster was plunged in a deep ditch at Devalian near Muzaffarabad on Saturday morning killing 13 passengers.

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Muzaffarabad:13 killed as coaster falls in ditch

Nadal to face Berdych in Wimbledon final Sunday

WIMBLEDON: Rafael Nadal’s wait to return to the Wimbledon final lasted two years, which probably seems like the blink of an eye to local fans.

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Nadal to face Berdych in Wimbledon final Sunday

Oil falls to 3-week low as recovery fears mount

NEW YORK: US crude oil prices fell a fifth straight day to a three-week low on Friday as bearish U.

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Oil falls to 3-week low as recovery fears mount

Oil hits 18-month high over $85

LONDON: U.S. crude futures hit an 18-month high on Monday, climbing towards $86 per barrel on expectations of faster-than-expected economic recovery.

Data on Friday showed U.S. employers created jobs in March at the fastest rate in three years. Non-farm payrolls rose 162,000, only the third increase since the U.S. economy fell into recession in late 2007 and the largest since March 2007.

U.S. manufacturing is also expanding at its fastest pace for more than five years, while Chinese manufacturing is picking up and Japanese business sentiment is also improving.

U.S. crude oil for May delivery rose $1.02 per barrel to a high of $85.89 in early Asian trade before slipping back to around $85.32, up 45 cents, by 1000 GMT. The market was closed for a three-day weekend including the Good Friday holiday.

U.S. crude has risen almost 2 percent in the first five days of the quarter, versus a rise of 5.5 percent through the whole of the first three months of the year.

Brent crude rose 29 cents to $84.30.

The strong payrolls, positive manufacturing data and signs of rising fuel demand are all likely to support oil prices and cement crude in a new, higher range trading, analysts say.

“Our take on crude oil prices in the short-term is that we likely will push higher from here,” said senior commodities analyst Edward Meir at brokers MF Global.

“Technically, there is very little resistance showing on the charts given the upside breakout evident.”

Last Thursday, crude oil settled at $84.87 after upbeat U.S. economic data signalled better oil demand ahead, prompting fund buying as the new quarter began.

In industry news, U.S. Tesoro Corp said on Sunday crude oil intake at its Anacortes, Washington, refinery was down to about 70 percent of its 120,000 barrel per day (bpd) capacity after a deadly explosion and fire on Friday.

Sustained demand for gas oil have triggered a surge in buying of crudes with high yields of gas oil and diesel in the Asia-Pacific market as demand led by Chinese buyers absorbed May-loading supplies.

Report :Pakistan Imports Crude Oil Worth $2.46billion

TrendPK.com

Report Pakistan Imports Crude Oil Worth $2.46billion:KARACHI: The crude oil imports in the country during the first eight months of the current fiscal year dropped 31 percent to $2.46 billion.
The State Bank of Pakistan , the imports of the petroleum products during the first eight months of [...]

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