No Result
View All Result
Tuesday, July 1, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    File photo

    Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    File photo

    Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

    JioHotstar has released the teaser for Sarzameen, starring Prithviraj Sukumaran, Kajol, and Ibrahim Ali Khan in a powerful patriotic thriller.

    Is Ibrahim Ali Khan & Kajol’s ‘Sarzameen’ anti-Pakistan?

    Squid Game 3 released on June 27, on Netflix.

    Squid Game Season 3: Stream it or skip it?

    file photo

    Has Alizeh Shah found her ‘Mr. Perfect’? Social media posts spark speculation

    (File Photo)

    Mehwish Hayat calls marriage a gamble, slams gendered expectations in showbiz

    Vicky Kaushal

    What did Vicky Kaushal say about Katrina Kaif’s feedback on his films?

  • 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 Uncategorized

Oil prices steady as China COVID worries outweigh supply concerns

Reuters by Reuters
November 16, 2022
(Representational Image)

(Representational Image)

SINGAPORE: Oil prices were little changed on Wednesday as COVID-19 cases in China continued to climb, sparking worries of lower fuel demand in the world’s top crude importer, and outweighing concerns about an escalation of geopolitical tensions and tighter oil supply.

Brent crude futures dropped by 6 cents, or 0.1%, to $93.80 a barrel by 0148 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 4 cents, or 0.1%, to $86.88 a barrel.

Oil prices settled higher on Tuesday after oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline was temporarily suspended, according to oil pipeline operators in Hungary and Slovakia.

This disruption came concurrent with an explosion in a village in eastern Poland near the Ukrainian border that killed two people, raising concerns that the Ukraine conflict could spill over its borders.

“Unconfirmed news about Russia’s missile attack on Poland has increased the risks of further sanctions on Russia by the U.S., EU and allies, which may worsen oil supply issues, putting upside pressure on the oil prices,” CMC Markets analyst Tina Teng said.

Read more: UK inflation hits 41-year high as Hunt readies tough budget

Sanctions on Russian oil could lead to a 1.4 million barrels per day loss of supplies next year, the International Energy Agency said.

In China, rising COVID-19 cases are weighing on sentiment despite hopes of easing virus restrictions this the week.

That has dampened oil demand growth outlook with the International Energy Agency (IEA) forecast demand growth slowing to 1.6 million bpd in 2023 from 2.1 million bpd this year. Earlier, the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for 2022 global oil demand growth for a fifth time since April citing mounting economic challenges.

Industry data showing a bigger-than-expected drop in U.S. crude stockpiles provided some support to oil prices.

U.S. crude oil inventories fell by about 5.8 million barrels for the week ended Nov. 11, according to market sources citing American Petroleum Institute figures.

By comparison, seven analysts polled by Reuters estimated on average that crude inventories dropped by about 400,000 barrels.

ShareTweetSendShare
Previous Post

Senate sub-committee formed to address Pakistan Steel Mills’ matters

Next Post

Northern beat Sindh by seven wickets in CA Championship

Related Stories

File photo
Daily Buzz

Mehr Bano opens up about harassment in the entertainment industry

June 30, 2025
Photo credit Express News
Uncategorized

US woman travels to Pakistan for her online lover

June 30, 2025
File photo
Uncategorized

Pakistan elected UNIDO president first time ever

June 30, 2025
File photo
Uncategorized

Sanam Javed gets bail in anti-state remarks case

June 30, 2025
Justice Sardar Muham­mad Sarfraz Dogar
Uncategorized

Justice Dogar notified as senior-most IHC judge in revised seniority list

June 29, 2025
File photo
Business & Stock

FBR, banks to share data to curb tax evasion

June 26, 2025
File photo
Uncategorized

MDCAT 2025: Expected entry test date in Pakistan announced

June 25, 2025
File photo
Uncategorized

Hunza’s Lexus hotel hit by flash flood

June 25, 2025
File photo
Uncategorized

Malala Yousafzai launches ‘Recess’ to empower women and girls through sports

June 25, 2025
Representational image
Transport

Monsoon rains: PAA issues advisory to pilots over birds

June 25, 2025
Next Post
Northern beat Sindh by seven wickets in CA Championship

Northern beat Sindh by seven wickets in CA Championship

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

File photo
Film & TV

Post-mortem report of Shefali Jariwala reveals heart attack as cause of death

by MM News Staff
June 30, 2025
Online/File photo
Prices

Govt end electricity duty from power bills

by MM News Staff
June 30, 2025
File photo
Daily Buzz

Mehr Bano opens up about harassment in the entertainment industry

by MM News Staff
June 30, 2025
File photo
Crime

Swat Tragedy tied to river diversion by land mafia, reveals initial probe

by MM News Staff
June 30, 2025
Photo credit Express News
Uncategorized

US woman travels to Pakistan for her online lover

by MM News Staff
June 30, 2025

Opinion

Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

(File Photo)
Top News

Weather forecast for Karachi today

by MM News Staff
June 30, 2025

The Pakistan Meteorological Department (PMD) has predicted partly cloudy and humid weather for Karachi...

Rain

Monsoon showers hit Karachi, more rain expected in coming hours

June 28, 2025
file photo

Showers continue across Karachi, bringing relief from the heat

June 27, 2025
file photo

Will Karachi receive more rain today?

June 27, 2025
See all

Prices

Online/File photo
Prices

Govt end electricity duty from power bills

by MM News Staff
June 30, 2025

Federal Minister for Energy Awais Leghari has formally requested all provincial governments to eliminate...

LGP prices have been slashed ahead of Ramadan. File photo

LPG prices slashed by Rs7.51 per kilogram for July 2025

June 30, 2025
(File)

Gold price increases Rs800 per tola

June 30, 2025

Rs1.15 per unit cut likely in power tariff

June 30, 2025
See all

Transport News

(APP)
Transport

Rs150 billion approved to make Rawalpindi a ‘signal-free’ city

by MM News Staff
June 29, 2025

The Punjab government has approved a record-breaking development package worth Rs.150.0 billion for Rawalpindi...

file photo

Pakistan set to launch train service from Lahore to Russia next month

June 29, 2025
Maryam Nawaz

Maryam Nawaz orders 240 electric buses for South Punjab districts

June 28, 2025

Two planes avoid major accidents following bird strikes at Karachi airport

June 27, 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.