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 […]
Global oil market
Oil prices rise as US-Iran peace talks show limited progress
Oil prices increased on Friday as investors closely monitored slow progress in US-Iran peace negotiations, which are linked to the reopening of the strategic Strait of Hormuz. Brent crude futures rose to 103.54 dollars per barrel, while US West Texas Intermediate also posted modest gains. Consequently, market sentiment remained highly sensitive to diplomatic developments and […]
Oil rises as US-Iran deal stalls
Oil prices rose on Monday as markets reacted to ongoing uncertainty over a potential US-Iran agreement and continued disruptions in Middle East shipping routes. The gains come as traders weigh geopolitical risks against supply concerns in the global energy market. Prices remain elevated due to fears of prolonged instability. Brent crude futures increased by $1.22, […]
Oil prices may surge to $140 amid rising tensions
Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has warned that global crude oil prices could climb to $140 per barrel as tensions surrounding Iranian exports continue to escalate. He sharply criticised Washington’s strategy, arguing that attempts to pressure Iran through restrictions on oil movement are backfiring. According to his remarks, instead of stabilising markets, such policies […]
UAE quits OPEC in major shock move
The United Arab Emirates has announced its withdrawal from OPEC and OPEC+, delivering a major setback to the global oil producers’ alliance. The decision is significant as it comes amid ongoing disruptions in global energy markets linked to regional conflict and supply instability. According to UAE Energy Minister Suhail Mohamed al-Mazrouei, the move follows a […]
Oil prices climb as US Iran tensions disrupt global supply fears
Global oil prices have risen sharply as tensions between United States and Iran continue to escalate, raising concerns over potential disruptions in international energy supply chains. Market analysts say the situation has created uncertainty among traders, pushing crude benchmarks upward across global exchanges. Furthermore, reports indicate that the recent seizure of commercial vessels in sensitive […]
US ends waiver on India discounted purchases of Russian oil
WASHINGTON: The United States (US) has announced the termination of a waiver previously granted to India that allowed discounted purchases of Russian crude oil, marking a shift in Washington’s approach to energy-related sanctions. Read More: US approval for Russian oil sparks outrage from Indian opposition According to reports cited by an Indian publication, Indian rokefineries had placed orders for nearly […]
Petrol prices may drop sharply in Pakistan
Petroleum product prices in Pakistan are expected to see a significant reduction following a sharp decline in global oil markets, offering potential relief to consumers burdened by rising inflation. According to industry sources, petrol prices could decrease by up to Rs55 per litre, while diesel prices may witness a substantial cut ranging between Rs95 and […]
Pakistan reviews fuel pricing system amid uncertainty
Islamabad – Pakistan fuel supply system is facing renewed uncertainty as the government considers major changes to the current weekly pricing mechanism for petroleum products. Officials say the review comes at a time of heightened volatility in global markets, driven by rising tensions around the strategically critical Strait of Hormuz. Read More: Pakistan adopts calibrated approach […]
Oil slips as diplomacy eases fears over global supply
Global oil prices moved lower on Wednesday as progress in talks between the United States and Iran reduced fears of potential supply disruptions from the Middle East. Investors reacted cautiously, shifting focus from geopolitical risks toward rising production and inventory concerns. In early Asian trading, Brent crude slipped slightly to around 67.39 dollars per barrel, […]