Rising Prices Of Crude Oil
Faizan Hashmi Published July 22, 2016 | 04:25 PM
Singapore, (UrduPoint / Pakistan Point News – 22nd July, 2016) : Currently, a trend of rise in crude oil prices was observed in Asian oil market, value reached 47.37 Dollars a barrel. International benchmark Brent crude hovered near a two-month low at around $46 a barrel ahead of the data release before recovering to a little below $47.50.
This morning in London, it was down to around $47 a barrel, well below the $50 at which it spent much of the spring. According to the report of US Department of Energy on oil, a continuous decline was recorded in oil inventories in the ninth week and 2.3 million barrels decline was observed in crude oil’s stockpiles last week.
According to American experts, the decline in oil inventories mainly caused in the increase of crude oil prices.
Recent Stories
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
More Stories From Business
-
Afghan trade delegation, FPCCI discuss bilateral trade
46 minutes ago -
With knowledge economy, Mauritius is a stable economy: Envoy
1 hour ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
2 hours ago -
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
2 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
3 hours ago -
WHO delegation calls on Chairman FBR
3 hours ago
-
Bill drafted to regulate veterinary sciences and animal welfare: Tanveer
3 hours ago -
General Motors lifts 2024 profit forecast after strong Q1
3 hours ago -
Pakistan aims to reach $3 trillion economy by 2047: Ahsan Iqbal
4 hours ago -
Digital technologies play significant role in economic growth: Shaza
4 hours ago -
Experts raise concerns over introduction of 10-stick packs
5 hours ago -
SACM directs making technical institutes as skill imparting centres
5 hours ago