Oil prices

Published February 20, 2003

LONDON, Feb 19: IPE Brent crude oil futures recovered some of its losses on Wednesday as dealers anticipate lower oil inventories data from delayed weekly US data, while keeping an eye on the debate over a possible war on Iraq.

By 1803 GMT, IPE April Brent crude oil futures were 18 cents lower at $32.36 a barrel, recovering nearly 20 cents from earlier in the session. Volume picked up after the opening of the US market, with 24,500 lots traded.

Gas oil futures closed $4.50 higher at $301 a ton.

“There’s some short covering ahead of the stock data tomorrow. We expect some bullish figures,” said one trader.

US stocks data were delayed until Thursday after Monday’s Presidents’ Day holiday. The market is also gearing up for Thursday’s US March NYMEX contract expiry, with a gap of more than a dollar to fill between the March and April futures.—Reuters

Opinion

Editorial

Doctor attacked
09 Jun, 2026

Doctor attacked

AN act of reprehensible violence has shaken the medical community. On Saturday, an employee of the Provincial Civil...
AJK flare-up
Updated 09 Jun, 2026

AJK flare-up

The situation started deteriorating after a trader affiliated with the JAAC was reportedly shot in an altercation with law-enforcers.
Fault lines
09 Jun, 2026

Fault lines

THE April 8 ceasefire that halted hostilities between Israel and Iran has encountered its most serious test yet....
Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...