Israel struck a petrochemical plant and other military targets in Iran on Monday, escalating regional tensions. The attack marked the first strike on an Iranian energy facility since the April ceasefire. The developments affect regional stability, global energy markets, and ongoing diplomatic efforts between Washington and Tehran. Israeli officials said the military targeted facilities within […]
global oil prices
Pakistan pushes fresh US-Iran peace efforts
Pakistan intensified diplomatic efforts to help advance peace talks between the United States and Iran amid rising regional tensions. Interior Minister Syed Mohsin Naqvi held fresh discussions with Iranian Foreign Minister Abbas Araqchi in Tehran on Friday. The talks focused on proposals aimed at ending the ongoing US-Israeli conflict and easing global economic concerns. Iranian […]
Trump signals short wait for Iran peace deal
US President Donald Trump has said Washington is prepared to launch further attacks on Tehran if a peace deal is not reached, while indicating he is willing to wait “a few days” for negotiations to progress. Read More: Iran, US negotiations reach decisive final stage Speaking to reporters at Joint Base Andrews on Wednesday, Trump […]
US issues 30-day licence for access to Russian oil shipments
The United States has issued a 30-day general licence allowing access to certain Russian oil shipments, in a move aimed at stabilising global energy markets and ensuring continued supply flows amid ongoing geopolitical disruptions. US Treasury Secretary Scott Bessent confirmed that the temporary licence will facilitate access to Russian crude oil that is currently stranded […]
Trump signals tougher stance on Iran amid Strait tensions
US President Donald Trump has said his patience with Iran is wearing thin as tensions over the Strait of Hormuz continue to disrupt global energy markets and regional stability. Speaking aboard Air Force One after concluding talks with Chinese President Xi Jinping in Beijing, Trump indicated that Tehran must reopen the crucial shipping route but […]
Pakistan fuel prices surge sharply after global oil shock
Pakistan has witnessed a sharp rise in petroleum prices over the past two and a half months, as petrol increased by 56 percent and diesel climbed by 48 percent following global supply disruptions linked to the US-Iran conflict. Officials said the sudden jump has placed heavy pressure on transport costs and household budgets across the […]
Iran distrusts US despite renewed diplomacy efforts
Iran said Friday it wants to preserve the current ceasefire to give diplomacy a chance despite distrusting the United States. The UAE also accelerated a major oil pipeline project to bypass the Strait of Hormuz after recent disruptions. The developments are significant for global oil markets, regional stability, and international shipping routes. Iranian Foreign Minister […]
Trump rejects Iran’s latest response as peace talks remain stalled
US President Donald Trump has dismissed Iran’s latest response to a US-backed peace proposal as “totally unacceptable,” signalling fresh uncertainty over diplomatic efforts to end the 10-week conflict that has destabilised the Middle East and disrupted global energy markets. Read More: US-Iran tensions persist despite calm around Strait of Hormuz In a post on Truth Social, […]
Iran reviews US peace proposal amid unresolved disputes
Iran said on Wednesday it was reviewing a US proposal aimed at ending the ongoing conflict between the two countries, although several major disputes remain unresolved, including Tehran’s nuclear programme and the reopening of the Strait of Hormuz. Read More: US and Iran ‘closing in on one-page memo to end war’ According to Iran’s ISNA news agency, a […]
UAE raises petrol prices by around 8%, fuel rates climb in May update
The United Arab Emirates (UAE) has announced new fuel prices for May 2026, increasing petrol rates by nearly 8% while keeping diesel prices unchanged, according to an official notification. The revision comes in line with rising global crude oil prices and ongoing volatility in international energy markets. Read More: UAE fuel prices surge sharply in latest […]