Pakistan Petroleum, Oil Stocks Gain as Crude Rises Above $111

Pakistan Petroleum Ltd. (PPL), the nation’s second-biggest fuel explorer, led gains among energy stocks in Karachi trading as oil surged to a 30-month high.

Pakistan Petroleum rose 1.7 percent, its biggest rise in more than two weeks, to 211.15 rupees at 9:48 a.m. local time. Oil & Gas Development Co., Pakistan’s biggest fuel explorer, gained 0.7 percent to 133.75 rupees. Pakistan Oilfields Ltd. (POL), the third-biggest fuel explorer, surged 2 percent to 328.99 Rupees.

Crude for May delivery rose as much as 89 cents, or 0.8 percent, to $111.19 a barrel in electronic trading on the New York Mercantile Exchange, as a fire burned at Libya’s Sarir field and on concern the conflict in other energy-exporting countries may spread.

To contact the reporter on this story: Farhan Sharif in Karachi News at fsharif2@bloomberg.net

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net

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