Global oil prices edged lower on Tuesday as renewed diplomatic efforts to reduce tensions between the United States (US) and Iran helped calm markets, despite continued military exchanges and fresh threats to energy supplies in the Middle East. Read More: Rubio accuses Iran of using Strait of Hormuz as pressure tool Brent crude futures fell […]
global energy
Strait of Hormuz tensions deepen amid US-Iran conflict
Tensions between the United States and Iran have intensified after both countries asserted authority over the strategically important Strait of Hormuz, following a new wave of military strikes and maritime incidents that have raised concerns about regional stability and global energy security. Read More: US seeks Iran pledge to secure Strait of Hormuz shipping According to […]
Saudi oil price cut sparks debate over future of global energy
Saudi Arabia’s biggest oil price cut in a generation is not about selling cheaper oil. It is the first shot in a new oil war. But what if the biggest winners are not Saudi Arabia, the Gulf states, or the oil companies? What if they are India, Pakistan, Bangladesh and the billions of ordinary consumers […]
US sanctions leave millions of Iranian oil barrels stranded at sea
Millions of barrels of Iranian crude oil have become stranded at sea after the United States (US) ended a sanctions waiver that had temporarily allowed Tehran to export oil under limited conditions. The move has significantly increased pressure on Iran’s energy sector and raised concerns about global oil supply and regional stability. Read More: Trump […]
Trump says US won’t rush Iran deal
United States President Donald Trump has said Washington will not rush into a deal with Iran, signalling that negotiations between the two countries remain ongoing despite recent optimism about a possible breakthrough. In a post on Truth Social, Donald Trump stated that the US blockade on Iranian ships in the Strait of Hormuz would remain […]
Oil rises after UAE attack sparks fresh supply fears
Global oil prices climbed to their highest levels in nearly two weeks on Monday after a drone attack targeted a nuclear power facility in the United Arab Emirates (UAE), raising concerns over further instability in the Middle East and disruptions to energy supplies. Read More: Pakistan fuel prices surge sharply after global oil shock Brent crude futures […]
US extends Russian oil waiver amid global energy pressure
The United States (US) has renewed a waiver allowing countries to purchase sanctioned Russian oil already at sea, in a move aimed at easing global energy pressures triggered by ongoing geopolitical tensions and the Iran conflict. Read More: US ends waiver on India discounted purchases of Russian oil According to the US Department of the Treasury, the waiver permits […]
Iran warns Hormuz Strait may close if US blockade continues
Tensions have escalated in the Gulf after the Iran warned that the strategic Strait of Hormuz may not remain open if the United States (US) continues its naval blockade of Iranian ports. Read More: US, Iran eye Islamabad for fresh talks as Hormuz blockade tightens Iranian officials issued the warning amid a fragile ceasefire and ongoing diplomatic efforts involving […]
Public-centric relief measures by Maryam Nawaz in the wake of global energy crisis
The world today is grappling with an unprecedented global energy crisis. Escalating oil prices, coupled with geopolitical tensions and ongoing conflicts, have placed immense strain on the economies of developing nations. Pakistan, too, is facing the ripple effects of this crisis, as rising petrol and diesel prices directly impact the daily lives of its citizens. […]
Global oil prices climbed sharply as Hormuz tensions disrupt supply
Global oil prices climbed sharply on Monday as escalating conflict in the Middle East disrupted key supply routes, particularly through the strategically vital Strait of Hormuz. Read More: OPEC+ agrees to boost oil output when Hormuz reopens Brent crude futures rose 1.6% to $110.74 a barrel, while West Texas Intermediate gained 0.6% to $112.25, extending last week’s […]