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US crude falls below $28 as IEA warns market could ‘drown in oil’

SINGAPORE: US crude tumbled below $28 a barrel in Asia on Wednesday, hitting new 12-year lows, after the International Energy Agency (IEA) warned that the oil market could "drown in oversupply".

Oil price to fall further as market ‘could drown in over-supply’: IEA

PARIS: The oil price is set to fall further this year as supply vastly exceeds demand, with major oil exporter Iran's return to the market offsetting any production cuts from other countries, the IEA said on Tuesday.

Facebook puts a price on suburban living for employees

NEW YORK: Facebook Inc is offering employees at its Silicon Valley headquarters at least $10,000 to move closer to the office, a reflection of the challenges many tech companies face in the increasingly expensive and congested San Francisco Bay area.

Rasheed pays the ‘price’ for govt’s cancellation of Iqbal Day holiday

LAHORE: Although the government succeeded in cancelling the public holiday on Iqbal Day, but the Information Minister Pervez Rasheed could not escape from its aftermath, ARY News reported.

Crude set for weekly loss as supply glut and dollar drag

LONDON: Crude oil prices were on track to post weekly losses on Friday as an oversupply of physical oil and a strong dollar bedevilled the market.

Price of tomatoes hiked upto Rs. 120 per kilo

KARACHI: The per kilogram price of tomatoes jumped upto Rs. 120 in Karachi, ARY News reports.

Gulf should adjust to new oil price ‘reality’: IMF

DUBAI: Gulf economies need to adjust to the "new reality" of oil prices expected to remain low for some time, the International Monetary Fund says, recommending spending cuts and income diversification.

Oil prices rebound in Asia trade

SINGAPORE: Oil prices rebounded in Asia Thursday on bargain-hunting after a surge in US crude stockpiles and record output in Saudi Arabia sparked a sell-off, analysts said.

14 million children pay price for Syria, Iraq conflicts: UNICEF

AMMAN: The United Nations children's fund said Thursday that 14 million children are paying the price for warfare in Syria and neighbouring Iraq, with violence and hardship shaping their future.

Oil up in Asia trade despite US inventories rise

SINGAPORE: Oil prices climbed in Asian trade Thursday as signs that a refineries strike in the United States is weakening overshadowed a rise in US crude stocks, analysts said.

Petroleum prices likely to go up by Rs. 3.97

ISLAMABAD: The petroleum prices in the country likely to go up by 3.5 per cent after global oil prices go high, ARY News reported.

Oil extends gains, euro recovers on ECB assurances

HONG KONG: Oil prices extended their gains on Friday at the end of a volatile week for the commodity, while the euro held its own after the European Central Bank made assurances that Greek banks would have access to much-needed funds.

Oil prices rebound in Asian trade but gains capped

SINGAPORE: Oil prices rebounded in Asia Thursday but gains were capped as the euro was hit by fresh concerns over Greece, further hurting demand in the face of an oversupply, analysts said.

Hyundai cuts price of fuel cell car, eyes competition with Toyota

SEOUL: Hyundai Motor Co said it will lower the price of its Tucson fuel cell electric vehicle by 43 percent in South Korea and consider cutting prices of the car overseas to compete with models from the likes of Toyota Motor Corp.

Samsung Electronics ponders stock split to appease investors: executive

SEOUL: South Korean tech giant Samsung Electronics Co Ltd is considering a stock split, a company executive said on Tuesday, as sliding profits put pressure on the firm to keep investors happy.

Oil prices retreat again, Brent dips below U.S. crude futures

SINGAPORE: Crude oil prices fell on Thursday, with both Brent and U.S. WTI futures dropping below $48 a barrel because of a global oversupply, following a volatile session the previous day when prices had rebounded sharply from near-six-year lows.

Rs 5 cut in petrol rates likely from Jan 1

ISLAMABAD: The government is likely to further slash prices of petroleum products with effect from January 1, 2015, ARY News reported Friday.

Iran's support for Syria tested by oil price drop

AMMAN: Syrian businessmen and trade officials say they are worried the economic lifeline provided by Iran is under strain from plunging oil prices, despite public messages of support from Syria's strongest regional ally.

Oil prices hit new multi-year lows in Asia

SINGAPORE: Oil prices fell to fresh multi-year lows in Asian trade Tuesday, with analysts blaming concerns about a supply glut and the effects of weaker demand from Europe and China.

POL prices likely to reduce in September

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has sent the summary to Ministry of Petroleum suggesting the revision in the petroleum prices for the month of September on Saturday, ARY News reported.
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