International Oil prices dip amidst concerns over economic slowdown

MG News | December 05, 2018 at 12:17 PM GMT+05:00

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December 05, 2018: Oil prices fell by 1 percent on Wednesday, mostly due to growing U.S. inventories and a plunge in global stock markets amidst concerns over an economic slowdown.

U.S. West Texas Intermediate (WTI) crude futures were at $52.61 per barrel at 0128 GMT, down 64 cents, or 1.2 percent, from their last close, while International Brent crude oil futures were down 56 cents, or 0.9 percent, at $61.52 per barrel.

On the other hand, Gold prices remained stable during early hours on Wednesday as the dollar scaled up, while palladium plunged from record highs touched in the previous session but was in close vicinity of the bullion.

Spot gold was at $1,236.85 per ounce at 0121 GMT. In the previous session, prices touched a peak of $1,241.86, their highest since Oct. 26, whereas U.S. gold futures were down 0.4 percent at $1,241.4 per ounces.

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Name	Price/Vol	%Chg/NChg
KSE100	159,096.79 286.00M	-0.30% -481.40
ALLSHR	96,671.31 956.17M	-0.27% -260.40
KSE30	48,148.75 102.85M	-0.46% -220.17
KMI30	227,277.27 68.51M	-0.56% -1278.41
KMIALLSHR	62,859.90 336.58M	-0.52% -331.18
BKTi	44,327.12 35.20M	-0.45% -200.35
OGTi	30,536.59 6.65M	-0.82% -252.55

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	101,680.00	104,590.00 100,610.00	-2560.00 -2.46%
BRENT CRUDE	63.04	64.34 62.84	-0.48 -0.76%
RICHARDS BAY COAL MONTHLY	87.25	87.25 87.25	0.10 0.11%
ROTTERDAM COAL MONTHLY	97.10	97.10 96.50	-0.10 -0.10%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	59.07	60.51 58.83	-0.53 -0.89%
SUGAR #11 WORLD	14.23	14.44 14.04	0.12 0.85%