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Dollar Strength and Stock Market Weakness Undercut Crude Oil Prices

Dollar Strength and Stock Market Weakness Undercut Crude Oil Prices

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January WTI crude oil (CLF26) on Friday closed down -0.16 (-0.28%), and January RBOB gasoline (RBF26) closed down -0.0077 (-0.44%). Crude oil and gasoline prices moved lower on Friday, with gasoline posting a 4.75-year nearest-futures low.  Friday’s dollar strength weighed on energy prices.  Also, Friday’s stock weakness has dampened optimism about the economic outlook, a […]

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Petroleum Prices Expected to Drop by Rs. 12 Per Litre

Petroleum Prices Expected to Drop by Rs. 12 Per Litre

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In a development that is expected to ease financial pressure on households and businesses across the country, petroleum prices in Pakistan are anticipated to decrease by Rs.12 per litre in the upcoming government price revision. The expected cut comes as international oil prices show a downward trend and the rupee maintains relative stability against the

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Crude Oil Prices Pressured on Signs of Abundant Global Supplies

Crude Oil Prices Pressured on Signs of Abundant Global Supplies

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January WTI crude oil (CLF26) on Thursday closed down -0.78 (-1.34%), and January RBOB gasoline (RBF26) closed down -0.0232 (-1.15%). Crude oil and gasoline retreated on Thursday, with crude posting a 7-week low and gasoline slumping to a 4.75-year nearest-futures low.  Concerns about a global oil glut continue to pressure crude prices.  Also, today’s stock

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‘Act of piracy’ or law: Can the US legally seize a Venezuelan tanker?

‘Act of piracy’ or law: Can the US legally seize a Venezuelan tanker?

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United States President Donald Trump has said that the US has seized a sanctioned oil tanker close to the coast of Venezuela, in a move that has caused oil prices to spike and further escalates tensions with Caracas. “We’ve just seized a tanker on the coast of Venezuela, large tanker, very large, largest one ever,

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US seizes largest oil tanker off Venezuela coast—here’s how oil prices and international relations will be impacted

US seizes largest oil tanker off Venezuela coast—here’s how oil prices and international relations will be impacted

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The United States has seized an oil tanker off Venezuela coast, President Donald Trump said, marking the first known action of its kind amid rising regional military activity. The move immediately pushed oil prices higher and signaled a more aggressive stance toward Venezuela’s crucial oil industry. U.S. officials say the operation marks a notable step

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‎US gasoline inventories rise by above 6M barrels

‎US gasoline inventories rise by above 6M barrels

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Oil tanks US crude oil inventories decreased during the week ended Dec. 5. Meanwhile, gasoline stockpile rose remarkably. Commercial crude inventories fell by 1.8 million barrels, beating expectations for an increase by 1.6 million barrels, according to data released by the Energy Information Administration (EIA) on Wednesday. Gasoline inventories added 6.4 barrels, with distillate stocks—including

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