AGL38.05▲ 0.23 (0.01%)AIRLINK131.26▼ -1.97 (-0.01%)BOP5.59▼ -0.05 (-0.01%)CNERGY3.79▲ 0.02 (0.01%)DCL8.72▼ -0.14 (-0.02%)DFML40.82▼ -0.12 (0.00%)DGKC87.9▼ -1.79 (-0.02%)FCCL34.75▼ -0.31 (-0.01%)FFBL65.9▼ -0.64 (-0.01%)FFL10.36▲ 0.23 (0.02%)HUBC108.7▲ 2.14 (0.02%)HUMNL14.1▲ 0.77 (0.06%)KEL4.8▼ -0.05 (-0.01%)KOSM6.86▲ 0.06 (0.01%)MLCF41.4▼ -0.13 (0.00%)NBP59.59▲ 0.94 (0.02%)OGDC180.6▼ -0.04 (0.00%)PAEL25.4▼ -0.22 (-0.01%)PIBTL5.89▲ 0.09 (0.02%)PPL145.11▼ -2.66 (-0.02%)PRL23.26▲ 0.1 (0.00%)PTC15.24▲ 0.04 (0.00%)SEARL67.75▼ -0.94 (-0.01%)TELE7.22▼ -0.01 (0.00%)TOMCL35.75▼ -0.19 (-0.01%)TPLP7.45▲ 0.09 (0.01%)TREET14.09▼ -0.06 (0.00%)TRG50.5▼ -0.25 (0.00%)UNITY26.38▼ -0.07 (0.00%)WTL1.21▲ 0 (0.00%)

Oil up on subdued recession fears from positive US data

Share
Tweet
WhatsApp
Share on Linkedin
[tta_listen_btn]

 

Oil prices increased on Monday with the release of positive economic indicators from the US, the declining value of the US dollar, and a supply cut forecast from OPEC+ countries.

International benchmark Brent crude traded at $75.97 per barrel at 9.51 a.m. local time (0651 GMT), a 0.89% increase from the closing price of $75.30 a barrel in the previous trading session.

The American benchmark West Texas Intermediate (WTI) traded at the same time at $72.02 per barrel, up 0.95% from the previous session’s close of $71.34 per barrel.

The US Labor Department’s data showed a 53-year low in its unemployment rate on Friday at 3.4%, easing recession concerns.—AA

Related Posts