The United Arab Emirates has accelerated construction of a major oil pipeline project after disruptions in the Strait of Hormuz severely affected global energy supplies and pushed international oil prices sharply higher. Crown Prince Sheikh Khaled bin Mohamed bin Zayed directed the Abu Dhabi National Oil Company to fast-track the West-East Pipeline project during a […]
global oil crisis
Iran warns US to accept peace proposal or face continued setbacks
Iran has warned the United States to accept its latest peace proposal or face continued setbacks, as tensions remain high despite an ongoing ceasefire in the wider Middle East conflict. Read More: Trump rejects Iran proposal as peace deal hopes fade Iran’s chief negotiator, Mohammad Bagher Ghalibaf, said Washington has no option but to recognise what Tehran calls the […]
Trump says US can reopen Strait of Hormuz
President Donald Trump said the U.S. could open the Strait of Hormuz “with a little more time,” intensifying regional tensions. The remark comes as the ongoing Iran war spreads chaos, disrupts markets, and threatens global energy supply. Countries dependent on Gulf oil are closely monitoring U.S. moves. Trump made the statement on Truth Social, claiming […]
Hormuz disruption triggered fears of increase in global oil markets
The ongoing disruption in the Strait of Hormuz has triggered a major upheaval in global oil markets, raising fears that crude prices could surge to as high as $200 per barrel. The crisis, now stretching beyond a month, is being described as one of the most severe oil supply shocks in modern history, with far-reaching […]
Trump sparks reaction with strategic Strait of Hormuz as the “Strait of Trump” remark
WASHINGTON — US President Donald Trump has drawn attention after referring to the strategic Strait of Hormuz as the “Strait of Trump” during remarks on the ongoing conflict with Iran, before quickly correcting himself. Read More: Iran charges $2 million for Hormuz passage Speaking at a Saudi-backed investment forum in Miami, Trump insisted that Iran must reopen […]
PM Shehbaz Sharif rejected a proposal to significant increase in fuel prices
ISLAMABAD – Prime Minister Shehbaz Sharif has once again rejected a proposal to significantly increase fuel prices, opting instead to keep rates unchanged and protect consumers from the impact of rising global oil prices. Read More: Government releases Rs27bn to keep petrol prices lower In a televised address on Friday, the premier said the government would bear […]
Fuel prices jump as Pakistan shifts to weekly review
Pakistan’s federal government has sharply increased petrol and diesel prices and announced a shift to weekly fuel price reviews amid rising global oil costs triggered by escalating tensions in the Middle East. Speaking at a press conference in Islamabad, Petroleum Minister Ali Pervaiz Malik confirmed that petrol prices had been raised by Rs55 per litre, […]