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Natixis expects Brent to average $60/bbl in Q3, $59/bbl in Q4 of 2015

BERN: Research firm Natixis have revised the central oil prices down once again in tune with current macroeconomic environment and unbalanced fundamentals. For Brent Natixis expect 2015Q3 and 2015Q4 to average $60/bbl and $59/bbl respectively and 2016Q1 to average $57/bbl. Average for 2015 and 2016 will be $59.2/bbl and $62.3/bbl respectively. Natixis expect WTI to trade at a discount of ... Read More »

Brent, US West Texas crude oil prices fall as UAE defends holding production

LONDON: Brent and US West Texas Intermediate crude oil prices fell to their lowest levels since March 2009 as a big Organisation of the Petroleum Exporting Countries (OPEC) producer stood by the group’s decision not to cut output to tackle a glut in the market. Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising ... Read More »

Brent extends losses below $70 after Saudi price cut

SINGAPORE: Brent oil expanded losses below $70 a drum on Friday and it continuously declined in second week,with Saudi Arabia reduction in another signal it would maintain output in an oversupplied market. Saudi Arabia cut monthly prices for crude it sells to the United States and Asia, while Iraq is set to export more oil, preventing Brent from staging a ... Read More »

Brent oil to reach $72-74 within 2014, face-off with recession monster

LAHORE: Oil sank to a four-year low below $77 a barrel on Friday, dropping for 8 weeks in a row, its longest weekly losing streak since records began in 1988, pressured by excess supply and scepticism over output cut by OPEC at a meeting in two weeks. Brent was up 64 cents at $78.13 a barrel as of 0946 GMT, ... Read More »

Brent crude oil firm above $85 after biggest fall since 2010

SINGAPORE, Brent crude firmed above $85 a barrel on Wednesday after its biggest slide in 3 years on Tuesday. Brent dropped nearly $4 on yesterday pushing prices to the lowest since late 2010. Brent has plummeted about $30 since mid-June due to prevailing worries about oil supply exceeding demand in a slowing global economy. Reluctance of core OPEC members, including ... Read More »

Reduction in petrol prices this Eid: Rs 12?

ISLAMABAD: Brent crude hit a 28-month low to $92.04 a barrel, falling from $115 a barrel in mid-June while benchmark US oil dropped below the $90 a barrel mark for the first time since April 2013. It is almost 18 percent decline in oil price in international markets while locally Petroleum Ministry has just decreased the petrol price by Rs ... Read More »

Brent crude oil falls as US hits Syria

LONDON: Brent crude has inched lower and reached $97 a barrel as the United States and its allies in Middle East launched strikes against so-called Islamic State strongholds in Syria. Meanwhile, US crude rose 31 cents to $91.18 a barrel, rebounding from a session low of $90.58 that was its weakest since Sept. 11. Oil prices fell to a two-year ... Read More »

Oil prices steady at end of volatile week

NEW YORK: World oil prices have steadied after Brent crude had this week hit a two-year low point against a backdrop of solid supplies and dampening demand growth. Brent North Sea crude for delivery in November edged up six cents to stand at US$97.76 a barrel around midday in London. US benchmark West Texas Intermediate for October eased 22 cents ... Read More »