Tokyo: Oil prices rose on Tuesday on escalating concerns over potential supply shortages, with Brent crude leading the way as hundreds of oil workers in Norway were set to strike later in the day.
Brent crude added 55 cents, or 0.7 percent, to $78.62 per barrel by 0638 GMT, following a 1.2-percent climb on Monday.
U.S. light crude futures were up 47 cents, or 0.7 percent, at $74.32.Hundreds of workers on Norwegian oil and gas offshore rigs are due to strike on Tuesday after rejecting a proposed wage deal, a move which will likely affect the production of at least one field, Shell´s Knarr. That potentially adds to disruptions in other oil producers amid tensions in the Middle East.
The United States says it wants to reduce oil exports from Iran, the world´s fifth-biggest producer, to zero by November, which would oblige other big producers to pump more.
The office of the Oil & Gas Development Company Limited in Islamabad. — Facebook/ogdclofficialISLAMABAD: Oil & Gas...
Indus Motor to halt production for a month amid supply chain woes. — The News/FileKARACHI: Ali Asghar Jamali, Chief...
The logo of the International Packaging Films Limited . — Facebook/IPAKFILMSKARACHI: The International Packaging...
An undated image of a gold set displayed at a jewellery store. — AFP/FileKARACHI: Gold prices in the local market...
A foreign currency dealer counts US dollar notes at a currency market in Karachi on July 19, 2022. — AFPLondon:...
We have not developed a policy that checks the promotion of vested interests