AGL 37.50 Decreased By ▼ -0.48 (-1.26%)
AIRLINK 223.69 Increased By ▲ 3.69 (1.68%)
BOP 10.98 Increased By ▲ 0.17 (1.57%)
CNERGY 7.64 Decreased By ▼ -0.21 (-2.68%)
DCL 9.56 Increased By ▲ 0.41 (4.48%)
DFML 41.74 Increased By ▲ 0.96 (2.35%)
DGKC 110.10 Increased By ▲ 5.18 (4.94%)
FCCL 37.80 Increased By ▲ 1.22 (3.34%)
FFL 18.20 Increased By ▲ 0.27 (1.51%)
HUBC 134.97 Increased By ▲ 4.08 (3.12%)
HUMNL 15.40 Increased By ▲ 0.73 (4.98%)
KEL 5.55 Decreased By ▼ -0.05 (-0.89%)
KOSM 7.45 Increased By ▲ 0.07 (0.95%)
MLCF 50.20 Increased By ▲ 4.26 (9.27%)
NBP 66.40 Decreased By ▼ -0.52 (-0.78%)
OGDC 228.40 Increased By ▲ 1.14 (0.5%)
PAEL 43.38 Decreased By ▼ -0.47 (-1.07%)
PIBTL 9.26 Decreased By ▼ -0.12 (-1.28%)
PPL 203.55 No Change ▼ 0.00 (0%)
PRL 42.85 Decreased By ▼ -1.47 (-3.32%)
PTC 27.40 Increased By ▲ 0.13 (0.48%)
SEARL 107.00 Increased By ▲ 2.54 (2.43%)
TELE 9.76 Increased By ▲ 0.06 (0.62%)
TOMCL 36.79 Increased By ▲ 1.10 (3.08%)
TPLP 15.30 Decreased By ▼ -0.34 (-2.17%)
TREET 26.57 Decreased By ▼ -1.52 (-5.41%)
TRG 70.00 Decreased By ▼ -0.67 (-0.95%)
UNITY 34.30 Decreased By ▼ -0.24 (-0.69%)
WTL 1.77 Decreased By ▼ -0.01 (-0.56%)
BR100 12,429 Increased By 41.4 (0.33%)
BR30 37,678 Decreased By -1027.5 (-2.65%)
KSE100 117,008 Increased By 1881.2 (1.63%)
KSE30 36,865 Increased By 682.4 (1.89%)

Oil was littled changed on Monday following a $3.00 slide over two days, as a US winter storm and Turkish bombing of Kurdish rebels in northern Iraq countered concerns about a weaker US economy.
US light, sweet crude for January delivery which expires on Tuesday, reversed earlier gains to stand 2 cents lower at $91.25 a barrel by 0755 GMT, adding to losses of nearly $1.00 on Friday and more than $2.00 the day before.
London Brent crude rose 12 cents to $91.81 a barrel. A snowstorm heading into New England lent support to prices, as traders factored in higher household use in the top heating oil consuming region. The storm brought snow, freezing rain and high winds to the US Northeast at the weekend.
Front-month heating oil futures rose by 0.2 percent to $2.6139 a gallon after closing on Friday at a more than $18.00 a barrel premium to crude, the highest in more than two years.
Turkish warplanes targetting Kurdish rebels bombed northern Iraq on Sunday, while up to 100,000 Turkish troops were near the Iraqi border, threatening a major operation that analysts feared could destabilise the region.
Analysts have said the action is not likely to affect oil shipments through Iraq's northern pipeline to the Turkish coast, which has only operated sporadically since the 2003 war, but fear it could further unsettle the rest of the oil-rich Middle East.
"I think this may be a bullish factor for the market," said Ken Hasegawa of Fimat Japan Inc Prices fell on Friday after data showed US consumer prices rose by their highest in more than two years in November due to surging energy costs and a host of other prices, dampening prospects for further interest-rate cuts and once again highlighting risks to the economy.
That data also helped the US dollar to its biggest daily rise against the euro in almost three years, adding further pressure to the dollar-denominated commodities complex.

Copyright Reuters, 2007

Comments

Comments are closed.