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 […]
Global oil market
US, Iran Doha talks end with focus on Strait of Hormuz
Indirect talks between the United States (US) and Iran concluded in Doha, Qatar, after two days of discussions centred on maritime security in the Strait of Hormuz and the release of frozen Iranian funds. While officials described the meetings as constructive, neither side announced any significant breakthrough or final agreement. According to sources familiar with […]
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 […]
Iran seeks funds as Hormuz tensions persist
Iran on Monday demanded the release of $6 billion held in Qatar while delaying technical talks with the United States under their memorandum of understanding. Tehran also advanced cooperation with Oman on the Strait of Hormuz as shipping traffic slowed after fresh vessel attacks. The developments are significant for regional diplomacy, energy security, and global […]
Oil prices fall as Hormuz shipments resume
Global oil prices fell nearly two percent on Friday as crude shipments through the Strait of Hormuz continued recovering. The decline came despite a cargo vessel being struck near Oman a day earlier. Lower supply concerns eased pressure on energy markets and oil traders. Brent crude dropped 1.99 percent to $73.76 per barrel, while US […]
Global oil prices fall over 5pc
Global crude oil prices declined by more than five percent during trading on Wednesday, extending recent losses in international energy markets. The decline follows the Iran-US agreement reached in Switzerland, which has eased concerns about supply disruptions. Lower oil prices could affect energy markets, inflation trends, and fuel costs worldwide. During trading, Brent crude fell […]
Iraq forecasts oil production recovery soon
Iraqi authorities have said the country’s oil production is expected to return to pre-war levels within one to two months. The projection follows months of disruption caused by regional conflict that significantly reduced exports and unsettled global energy markets. The recovery is seen as crucial for stabilising Iraq’s economy. According to the Iraqi Oil Ministry, […]
Crude prices fall after Iran-US deal
Global crude oil prices fell to their lowest levels in three months following the Iran-US agreement. The decline extended recent losses in energy markets and raised hopes of improved supply conditions. The development is significant for oil-importing countries, businesses, and consumers worldwide. Market sentiment remained positive after the agreement between Iran and the United States […]
Petrol price relief likely as global oil falls
Pakistani consumers could see relief at fuel stations in the coming weeks as international crude oil prices continue to decline after recent geopolitical tensions eased. The downward trend in global energy markets has increased expectations that domestic petroleum prices may also move lower during the next review period, offering some support to households and businesses […]
Oil slips on US-Iran deal, Hormuz plan
Oil prices fell to their lowest level since March on Monday after the United States and Iran announced a preliminary agreement. The development matters because it signals easing geopolitical tensions and could restore key global oil flows. Energy markets, exporters, and importing economies are directly affected by the price decline. Brent crude futures dropped $4.08 […]