Global crude oil prices recorded a sharp decline on Friday, with major benchmark grades falling between three and 10 percent. The drop reflects broad weakness across international energy markets. US crude oil fell three percent to $89.40 per barrel. Meanwhile, the decline reduced prices from recent highs seen in global trading. Read more: Oil hits six-week […]
US crude oil
Pakistan receives first US crude oil shipment, marks energy milestone
Pakistan received its first-ever shipment of US crude oil on Tuesday, marking a historic milestone in the country’s energy and trade sector. The Suezmax-class vessel MT Pegasus, carrying 1 million barrels of West Texas Intermediate (WTI) crude, docked at Cnergyico’s offshore terminal in Balochistan. The shipment strengthens Pakistan’s energy diversification and deepens economic ties with […]
Oil prices rise for a second day on signs of strong China demand
Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly. International benchmark Brent crude oil futures rose 21 cents, or 0.29 percent, to $71.93 a […]