Oil prices fell on Wednesday, as a surprisingly large increase in US gasoline inventories overshadowed easing supply concerns resulting from the ceasefire agreement between Israel and Hezbollah. Brent crude futures fell 12 cents, or 0.2%, to $723.69 a barrel by 10:40 a.m. EDT (1540 GMT), and US West Texas Intermediate crude fell 15 cents, or … Read more
Oil prices were little changed on Tuesday, awaiting further price direction from OPEC’s monthly report, with investor disappointment over China’s latest stimulus plan and fears of oversupply keeping buying interest at bay. By 0745 GMT, Brent crude futures rose four cents to $71.87 a barrel. US West Texas Intermediate crude futures fell one cent to … Read more
Oil prices fell by about $4 a barrel on Monday after Israel’s retaliatory strike against Iran over the weekend bypassed oil and nuclear facilities and did not disrupt energy supplies. By 1445 GMT, Brent crude futures fell $4.13, or 5.43%, to $71.92 per barrel, while US West Texas Intermediate crude futures lost $4.04, or 5.63%, … Read more
An undated photo of the Barco refinery. — Barco website/file The refinery will remain closed from October 10 to November 18 Barco meets 40-50% of the country’s oil needs. The facility can process 120,000 barrels of crude oil per day. KARACHI: Pak Arab Refinery Limited (Parco), the country’s largest oil refinery, is set to shut … Read more