Invesco Db Oil Fund ETF News

Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Sunday said that uncertainty surrounding the International Monetary Fund''s (IMF) loan facility for Pakistan will be over soon, saying a "good news" was on the cards. Tarin had earlier this month announced that the government''s agreement with the IMF over the revival of the $6 billion Extended Fund Facility (EFF) had been reached and a formal accord would be signed in a week. However, an announcement in this regard is still awaited. Addressing a gathering today, Tarin said the IMF''s expected announcement of the EFF resumption would also help arrest the rupee''s devaluation. Read more: With no IMF accord in sight, dollar rises to Rs171.85 in interbank market "Once the settlement with the IMF is reached, it will also rein in speculators causing devaluation of rupee," the PM''s adviser said. Tarin said speculative elements had caused eight to nine rupees'' worth of devaluation to the rupee, also adding that an additional demand for dollar by Afghan citizens was also adding to the pressure on the Pakistani currency.

A proposed crude oil export ban is encountering strong opposition in the oil and gas industry, which argue that such a ban will only hurt drillers and won''t help drivers. As the Biden Administration considers ways to lower the price of gasoline in the United States, which is now at a seven-year high, it faces calls from Democrats to weigh all possibilities, including the "nuclear option" to reimp