AGL 40.80 Increased By ▲ 0.60 (1.49%)
AIRLINK 130.33 Increased By ▲ 1.22 (0.94%)
BOP 6.40 Decreased By ▼ -0.20 (-3.03%)
CNERGY 4.22 Increased By ▲ 0.19 (4.71%)
DCL 8.85 Increased By ▲ 0.40 (4.73%)
DFML 42.48 Increased By ▲ 1.23 (2.98%)
DGKC 87.65 Increased By ▲ 0.65 (0.75%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.00 Increased By ▲ 0.10 (0.15%)
FFL 10.77 Increased By ▲ 0.23 (2.18%)
HUBC 113.75 Increased By ▲ 3.05 (2.76%)
HUMNL 16.00 Increased By ▲ 0.77 (5.06%)
KEL 4.86 Increased By ▲ 0.08 (1.67%)
KOSM 8.06 Increased By ▲ 0.23 (2.94%)
MLCF 42.01 Increased By ▲ 0.11 (0.26%)
NBP 61.15 Increased By ▲ 0.65 (1.07%)
OGDC 191.90 Increased By ▲ 9.10 (4.98%)
PAEL 25.70 Increased By ▲ 0.34 (1.34%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 25.60 Increased By ▲ 1.04 (4.23%)
PTC 16.58 Increased By ▲ 0.34 (2.09%)
SEARL 70.70 Increased By ▲ 0.20 (0.28%)
TELE 7.38 Increased By ▲ 0.08 (1.1%)
TOMCL 36.35 Increased By ▲ 0.05 (0.14%)
TPLP 8.17 Increased By ▲ 0.32 (4.08%)
TREET 16.25 Increased By ▲ 0.95 (6.21%)
TRG 51.50 Decreased By ▼ -0.20 (-0.39%)
UNITY 27.41 Increased By ▲ 0.06 (0.22%)
WTL 1.29 Increased By ▲ 0.06 (4.88%)
BR100 9,957 Increased By 115.4 (1.17%)
BR30 30,708 Increased By 671.9 (2.24%)
KSE100 93,487 Increased By 966.8 (1.04%)
KSE30 29,066 Increased By 279.8 (0.97%)

Oil rose on Monday to touch a five-week high over $79 a barrel as expectations of colder weather in the United States and signs of economic recovery boosted the outlook for fuel demand. US crude traded up 95 cents from Thursday's close to $79.00 by 11:15 am EST (1615 GMT) in thin trade, after earlier touching $79.12, the highest since November 23. Oil markets were shut on Friday for the Christmas holiday.
Brent crude rose 95 cents to $77.26 a barrel. Oil has climbed more than 12 percent from a dip below $70 two weeks ago on expectations of rising consumption and falling inventories in the United States, where companies have been drawing down stockpiles for end-year tax purposes. "There were some strong draws in the stocks last week and it is cold in the US," said Olivier Jakob, analyst at Petromatrix. "But the volumes are very light."

Copyright Reuters, 2009

Comments

Comments are closed.