NEW YORK: Brent crude and WTI have turned sharply after tumbling to fresh 5-1/2 year lows overnight on OPEC’s announcement that it will not cut output even if prices fall as low as $40/bbl.
The rally is pushing European shares higher. Brent crude is up 1.6% at $62.86, after hovering close to $60/bbl yesterday. WTI fell below $57 last night, but is now up 1% at $58.39 per barrel.
President summons NA, Senate budget sessions on June 5
ISLAMABAD: President Asif Ali Zardari has summoned sessions of the National Assembly and Senate on June 5, with both houses...
