Pakistan has announced a record increase in fuel prices days before the end of a fiscal year in which the country’s economy contracted for the first time in 68 years as a result of the coronavirus pandemic.
The discussion will provide a high-level forum for dialogue on key topics including safeguarding people, ensuring business continuity, and sustainably positioning the industry around the green shoots of economic recovery.
Malaysia’s Petronas said on Wednesday it raised $6 billion by a multi-tranche senior bond offering, the state oil company’s first such sale in five years.
Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don’t want to get stuck owning crude with nowhere to store it.
The price of Super 98 will be Dhs1.91 per litre, while the price of Special 95 will be Dhs1.8 per litre and diesel prices will be Dhs2.06 per litre.
Stocks around the world climbed on Wednesday, and the S&P 500 surged toward its first gain of what’s been a dismal week.
Brent crude fell 29 cents, or 0.7%, to $42.95 a barrel by 0510 GMT while U.S. West Texas Intermediate crude was at $40.25 a barrel, down 30 cents, or 0.7%.
Brent crude was down 1 cent at $43.30 a barrel by 0807 GMT, while US West Texas Intermediate (WTI) crude up 1 cent at $41.08.
Brent crude dipped 8 cents, or 0.2%, to $43.26 a barrel by 0403 GMT, while U.S. West Texas Intermediate (WTI) crude dropped to $41.22 a barrel, down 7 cents, or 0.2%.
Brent crude futures climbed 2 cents, or 0.1%, to $43.43 a barrel at 0423 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 7 cents, or 0.2%, to $41.53 a barrel. Both benchmarks rose as much as 0.5% earlier in the session.