Iran declared the Strait of Hormuz will not reopen through American military pressure, escalating tensions across the Gulf. Fresh military exchanges between Iran and the United States increased fears over regional security and global energy supplies. The developments directly affect international shipping, oil markets, and countries dependent on Gulf trade. Iranian Army spokesperson Brigadier General […]
oil prices
PSX losses by more than 3,000 points amid rising oil prices
The Pakistan Stock Exchange (PSX) remained under heavy selling pressure on Tuesday, with the benchmark KSE-100 Index falling by more than 3,000 points in early trading as escalating tensions in the Middle East and rising global oil prices dampened investor confidence. Read More: PSX opens week in red on back on renewed ME tensions During the […]
Oil prices jump, Asian shares slip as US and Iran carry out airstrikes
Oil prices jumped and Asian shares were mostly lower Monday after the U.S. carried out airstrikes and Iran retaliated. The price of Brent crude, the international standard, gained 3.6% to $78.76 per barrel, while U.S. benchmark crude added 3.5% to $73.97 per barrel. Prices for both types of crude oil recently had slipped back to […]
PSX declines as Middle East tensions weigh on markets
The Pakistan Stock Exchange (PSX) came under significant selling pressure on Monday as escalating tensions in the Middle East and a sharp rise in global oil prices dampened investor confidence. Read More: PSX tumbles after Trump Iran move The benchmark KSE-100 Index fell to an intraday low of 179,448.52, losing 2,793.25 points, or 1.53%, from its […]
Asian markets fall as Gulf tensions drive oil prices higher
Asian stock markets declined on Monday as escalating conflict in the Gulf and renewed concerns over the Strait of Hormuz sent oil prices sharply higher, raising fears of inflation and increasing uncertainty across global financial markets. Read More: Oil prices ease after Opec+ boosts output targets Investor sentiment weakened after Iran claimed to have closed the […]
US-Iran escalation fuels oil price surge
Oil prices climbed more than one percent on Thursday after fresh U.S. military strikes on Iran renewed concerns over the Middle East conflict. The escalation weakened hopes for a lasting ceasefire and raised fears of disruptions in the Strait of Hormuz. Energy markets, global shipping, and oil-importing countries are expected to feel the impact. Brent […]
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 […]
Oil prices ease after Opec+ boosts output targets
Oil prices edged lower on Monday after Opec+ agreed to raise its production targets for August, while crude exports through the Strait of Hormuz continued recovering following recent regional tensions, increasing expectations of higher global supply. Read More: Levy adjustment keeps fuel rate unchanged despite global price fall Brent crude futures fell 24 cents, or 0.33%, to $71.88 per […]
Oil edges higher as Middle East peace efforts continue
Oil prices posted modest gains on Friday as investors remained cautiously optimistic about ongoing diplomatic efforts between the United States and Iran, while monitoring crude supplies from the Middle East ahead of the long US holiday weekend. International benchmark Brent crude rose 17 cents, or 0.24%, to $72.10 per barrel, while US West Texas Intermediate […]
Oil climbs as Iran-US talks falter
Oil prices rose on Wednesday as uncertainty over Iran-US negotiations renewed concerns about crude supplies from the Middle East. Investors feared stalled diplomatic efforts could prolong regional supply disruptions. The gains reflected growing caution in global energy markets. Brent crude futures rose 33 cents, or 0.45%, to $73.28 a barrel, while US West Texas Intermediate […]