Oil

Qatar’s dispute with Arab states lifts oil prices, may affect Moody’s credit rating

Qatar’s dispute with Arab states lifts oil prices, may affect Moody’s credit rating

News Desk Saudi Arabia and key allies on Monday cut ties with Qatar, the world’s top seller of liquefied natural gas (LNG), accusing it of supporting extremism and sending shockwaves through the energy industry. Saudi Arabia, along with the United Arab Emirates, Egypt, and Bahrain said they would sever all ties including transport links with […]

OIL PRICES FIRM ON STRONG DEMAND, POLITICAL UNCERTAINTY IN SYRIA

OIL PRICES FIRM ON STRONG DEMAND, POLITICAL UNCERTAINTY IN SYRIA

SINGAPORE – Oil prices were firm on Monday, supported by strong demand and political uncertainty in Syria, although another rise in US drilling activity kept a lid on gains. Brent crude futures LCOc1, the international benchmark for oil, were at $55.28 per barrel at 0226 GMT, up 4 cents from their last close. US West […]

Oil prices rise on talk that OPEC could extend supply cut

Oil prices rise on talk that OPEC could extend supply cut

Oil prices rise on talk that OPEC could extend supply cut Web Desk Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo SINGAPORE: Oil prices rose on Tuesday on expectations that an OPEC-led production cut to prop up the market could be […]

SC bars Utility Stores from selling cooking oil

SC bars Utility Stores from selling cooking oil

The Supreme Court of Pakistan on Tuesday heard a case regarding the sale of ‘substandard’ cooking oil and ghee products in Utility Stores Corporation (USC) outlets across the country. The lawyer representing USC, Mustafa Ramday, submitted a report on the oil being sold during proceedings. Chief Justice of Pakistan Justice Mian Saqib Nisar told the […]

Obama bans oil drilling ‘permanently’ off Alaska, part of Atlantic coast

WASHINGTON: US President Barack Obama on Tuesday banned new oil and gas drilling in federal waters in the Atlantic and Arctic Oceans, in a push to leave his stamp on the environment before Republican Donald Trump takes office next month. Obama used a 1950s-era law called the Outer Continental Shelf Act that allows presidents to […]