Oil prices recover losses as Libya’s NOC declares force majeure on exports

MG News | December 11, 2018 at 10:28 AM GMT+05:00

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December 11, 2018 (MLN): Oil prices on Tuesday redeemed some of its losses from the previous day as Libya's National Oil Company declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group.

In spite of that, overall sentiment on oil prices remained weak amidst worries over global stock markets and uncertainties as to whether the planned supply cuts led by OPEC will be enough to regulate oversupply.

International Brent crude oil futures were at $60.30 per barrel at 0206 GMT, up 33 cents, or 0.6 percent, from their last close.

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U.S. West Texas Intermediate (WTI) crude futures were at $51.19 per barrel, up 19 cents, or 0.4 percent, from their last settlement.

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Name	Price/Vol	%Chg/NChg
KSE100	157,953.47 555.47M	1.14% 1775.65
ALLSHR	96,741.22 1,957.60M	1.16% 1110.83
KSE30	48,198.94 249.79M	1.09% 520.47
KMI30	232,694.17 290.89M	1.31% 3011.94
KMIALLSHR	65,027.13 1,019.78M	1.03% 660.37
BKTi	42,489.56 84.10M	1.35% 566.75
OGTi	31,779.36 15.21M	0.14% 43.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,190.00	118,295.00 116,115.00	2365.00 2.04%
BRENT CRUDE	68.26	68.42 67.34	0.31 0.46%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	94.00	94.50 94.00	0.45 0.48%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	64.02	64.20 63.11	0.32 0.50%
SUGAR #11 WORLD	15.98	16.27 15.92	-0.29 -1.78%