Crude Oil Prices Today-May 2, 2025
Staff Report
Islamabad: Crude oil prices have witnessed a decline across the board for various blends as West Texas Intermediate (WTI) crude price stood at $58.49, registering a decrease of $0.75 or 1.27%.
Similarly, the Price of Brent crude was $61.46, down by $0.67 or 1.08%, and Murban was traded lower at $61.20, registering a decline of $1.14 or 1.83%. However, natural gas was traded at $3.592, which witnessed a significant increase of $0.113 or 3.25%.
Earlier, crude oil prices had remained under pressure due to uncertainty as WTI crude stood at $59.72 per barrel, being traded near the lower end of its current range between $58.28 and $59.86. Brent crude price stood at $62.56, just below its upper band of $62.72.
While the price of Arab Light was quoted at $62.05. Its official selling price for May, set at $1.20, was above the Oman/Dubai average. It signaled moderate strength in Asian markets. However, the real-time spot prices have remained unclear.crude oil extends gains
Coal (R-Bay) was slipped to $88.75 per ton, showing a lower demand in the market.
The rupee also remained steady at Rs 280.97 compared to the US dollar (interbank). GLTK was traded at $1.99.
Foreign investors have pulled out $3.99 million (net), which has put pressure on the market.
Leverage Activity Remains High:
- Futures contracts (May–June): Rs. 29.27 billion
- Margin Trading System (MTS): Rs. 9.92 billion
- Margin Financing System (MFS): Rs. 9.8 billion