No Result
View All Result
Sunday, June 1, 2025
MM News
اردو
  • Home
  • Latest News
  • Showbiz
    Gen V Season 2

    Prime Video drops teaser trailer, confirms Gen V Season 2 premiere for September 17

    Arshad Warsi

    Arshad Warsi and wife face 5-year ban: Will he also disappear from films?

    Deepika Padukone

    In pictures: What are the shocking controversies in Deepika Padukone’s past?

    Hania Amir

    Yashma Gill proposes to Hania Aamir: Her hilarious reply goes viral

    Image: AP

    In Pictures: Thailand’s Opal Suchata Chuangsri crowned Miss World

    Gigi and Bella Hadid

    The Hadid sisters have a stepsister? Here’s what we know

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • Showbiz
    Gen V Season 2

    Prime Video drops teaser trailer, confirms Gen V Season 2 premiere for September 17

    Arshad Warsi

    Arshad Warsi and wife face 5-year ban: Will he also disappear from films?

    Deepika Padukone

    In pictures: What are the shocking controversies in Deepika Padukone’s past?

    Hania Amir

    Yashma Gill proposes to Hania Aamir: Her hilarious reply goes viral

    Image: AP

    In Pictures: Thailand’s Opal Suchata Chuangsri crowned Miss World

    Gigi and Bella Hadid

    The Hadid sisters have a stepsister? Here’s what we know

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

Oil prices rally accelerates after drop in US stocks

MM News Staff by MM News Staff
December 4, 2020

TOKYO: Oil price rose for a fifth day on Thursday after a surprise fall in US crude inventories rally driven by optimism that vaccines will end the coronavirus pandemic and revive demand for fuels.

Brent futures were up 45 cents, or 0.9%, at $49.06 a barrel after rising around 1.6% in the previous session. West Texas Intermediate crude was up by 34 cents, or 0.7%, at $46.05 a barrel, having gained 1.8% on Wednesday.

Both benchmarks have risen about 9% this week, getting a boost after AstraZeneca said its COVID-19 vaccine could be up to 90% effective, adding to the potential optimism to end the worst pandemic in a century.

Encouraging vaccine results are “pushing aside concerns of enduring containment measures and prompting some follow-through buying from the speculative community,” Citigroup Global Markets said in a note. It warned that “a pullback cannot be ruled out amid less robust demand in the near term.”

US oil stockpiles fell 754,000 barrels last week, data show. The stockpiles at the Cushing, Oklahoma, delivery point for WTI, fell by 1.7 million barrels. Gasoline demand for the week fell by 128,000 barrels per day (bpd) to 8.13 million bpd, the lowest since June.

US President-elect Joe Biden has urged people to forgo big family gatherings, wear protective masks and maintain social distancing for the Thanksgiving holiday in the face of the surging coronavirus pandemic.

Americans are defying pleas from officials to stay home. The United States has recorded 2.3 million new infections in the past two weeks.

Tags: BusinessOilpricesstock
ShareTweetSendShare
Previous Post

Four members of Shehbaz Sharif’s family declared proclaimed offenders

Next Post

FM arrives in Niger to attend OIC foreign minister’s meeting

Related Stories

Business & Stock

Tax cuts for salaried class likely after IMF approval

June 1, 2025
file image
Business & Stock

FBR proposes increase in withholding tax for vehicles

June 1, 2025
Representative image
Business & Stock

Forex rates in Pakistan today- Sunday, June 1, 2025

June 1, 2025
representative image
Business & Stock

Gold prices in Pakistan today- Sunday, June 1, 2025

June 1, 2025
Shehbaz Sharif
Business & Stock

Balochistan to receive Rs250 Billion in development budget: Shehbaz Sharif

June 1, 2025
File photo
Business & Stock

AirAsia: Malaysia’s budget airline begins flight operations to Karachi

May 31, 2025
File photo
Business & Stock

FBR faces Rs206 Billion tax shortfall in May 2025

May 31, 2025
representative image
Business & Stock

Gold prices further drop in Pakistan

May 31, 2025
file photo
Business & Stock

FBR proposes 100% increase in withholding tax on cash withdrawals from banks

May 31, 2025
Foreign Currency
Business & Stock

Foreign currency exchange rates in Pakistan, 31 May 2025

May 31, 2025
Next Post

FM arrives in Niger to attend OIC foreign minister's meeting

Trending Stories

Business & Stock

Tax cuts for salaried class likely after IMF approval

by MM News Staff
June 1, 2025
(Representational Image)
Bakra Eid 2025

Makeshift mechanical rides banned in Punjab during Eid holidays

by MM News Staff
June 1, 2025
Gen V Season 2
Amazon Prime

Prime Video drops teaser trailer, confirms Gen V Season 2 premiere for September 17

by MM News Staff
June 1, 2025
Sybil Sohail with her gold medal at the Asian Weightlifting Masters Championship in Doha on May 30. Photo Courtesy: TWINKLE SOHAIL
Sports

Sybil Sohail wins gold at Asian Weightlifting Championship

by MM News Staff
June 1, 2025
Weather

Karachi sizzles at 39 degree Celsius

by MM News Staff
June 1, 2025

Opinion

munir ahmed oped
AIF 2025 – A Rallying Cry for Unity in a Fractured World
May 31, 2025
- Munir Ahmed
munir-ahmed-oped-2-1140x1140
Eurasian Economic Union at 10: Looking Beyond the Decade
May 29, 2025
- Munir Ahmed
munir-ahmed-oped-2-1140x1140
Crimea at the Crossroads: Development, Identity, and Geopolitics
May 29, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Weather

Karachi sizzles at 39 degree Celsius

by MM News Staff
June 1, 2025

Temperatures in Karachi reached 39 degrees Celsius on Sunday as the southern port city...

Glaciers in Pakistan

Pakistan develops policy framework to protect glaciers, combat climate change

June 1, 2025
file photo

Weather updates for Islamabad, other parts of Pakistan

June 1, 2025
Heatwave

Karachi braces for more heat as temperature remains high

May 31, 2025
See all

Prices

representative image
Business & Stock

Gold prices in Pakistan today- Sunday, June 1, 2025

by MM News Staff
June 1, 2025

The following are the current gold prices in Pakistan on Sunday, June 1, 2025....

File photo

Petrol price hiked by Re1 per litre in Pakistan

May 31, 2025
LGP prices have been slashed ahead of Ramadan. File photo

LPG prices announced for June 2025

May 31, 2025
representative image

Gold prices further drop in Pakistan

May 31, 2025
See all

Transport News

file photo
Transport

Govt doubles public transport fares in Islamabad

by MM News Staff
June 1, 2025

The Capital Development Authority (CDA) has introduced a revised fare structure for the city's...

representative image

Everything you need to know about Lahore’s Yellow Line E-Train Project

June 1, 2025
Pakistan Express

Train derailment: Pakistan Express heading to Rawalpindi suffers major accident

June 1, 2025
(Image: Dawn)

Karachi residents protest load-shedding; National Highway blocked

May 31, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.