Oil prices gained slightly on Thursday, rebounding from two days of declines, as a larger-than-expected draw in U.S. crude inventories provided some impetus for investors to buy futures while they monitor developments in Venezuela. Brent crude futures climbed 38 cents, or 0.6%, to $60.34 a barrel by 0104 GMT, while U.S. West Texas Intermediate crude was at $56.36 a barrel, up 37 cents, or 0.7%.
The Pakistani rupee strengthened against the US dollar, appreciating 0.07% during the opening minutes of trading in the inter-bank market on Thursday. At 10am, the local currency was hovering at 279.85, a gain of Re0.21 against the greenback. On Wednesday, the local unit closed at 280.06. Internationally, the US dollar was calm on Thursday as investors weighed a slew of data that showed the
Gold prices dipped on Thursday, pressured by a firm dollar as investors geared up for a key jobs report later this week that could provide more hints on US monetary policy moves and while they assess the US pressure on Venezuela. Spot gold lost 0.3% to $4,440.67 per ounce as of 0344 GMT, dipping from an over one-week high hit in the last session. US gold futures for February delivery also fe
Pakistan and Saudi Arabia are in talks to convert about $2 billion of Saudi loans into a JF-17 fighter jet deal, two Pakistani sources said, deepening military cooperation months after the two nations signed a mutual defence pact last year. The talks underscore how the two allies are moving to operationalise defence cooperation at a time when Pakistan is facing acute financial strain and Saudi
Mari Energies Limited, one of Pakistan’s largest E&P companies, on Thursday informed that the federal government has approved fresh allocation and pricing of natural gas from the Ghazij and Shawal discoveries in the Mari field for key fertiliser manufacturers.. The listed E&P disclosed the development in its notice to the Pakistan Stock Exchange (PSX) today. Under the approval, gas volumes h