Russia said the OPEC+ group will continue operating despite the UAE’s exit, easing fears of disruption. Deputy Prime Minister Alexander Novak ruled out an oil price war, citing a global supply deficit. The development matters for energy markets, as producers and consumers face ongoing volatility. Speaking to Russian media, Novak stressed that cooperation among major […]
global oil prices
Trump urges Iran to sign nuclear deal
US President Donald Trump has urged Iran to quickly sign a deal, warning that delays could worsen the situation. His remarks come amid stalled diplomatic efforts to end the ongoing conflict and reports of a possible extension of US pressure on Iranian ports. The comments highlight rising tensions between Washington and Tehran. Trump said Iran […]
Pakistan oil bill hits record $800m: PM Shehbaz
Pakistan’s weekly oil import bill has surged to $800 million amid the ongoing Middle East war, Prime Minister Shehbaz Sharif said on Wednesday. The sharp increase follows rising global fuel prices after recent regional conflict. The spike is straining the country’s economy and affecting energy costs nationwide. Speaking at a federal cabinet meeting, the prime […]
Trump unhappy with Iran peace proposal
US President Donald Trump has expressed dissatisfaction with the latest Iranian proposal aimed at ending the ongoing two-month war, according to a US official. The development signals continued deadlock in diplomatic efforts to resolve a conflict that has disrupted global energy supplies and worsened inflation pressures. The disagreement highlights deep divisions between Washington and Tehran […]
Hormuz closure returns amid US blockade
Iran has reversed its decision to reopen the Strait of Hormuz. The move follows continued US naval blockade, raising fresh global energy concerns. The decision affects international shipping, oil markets, and regional stability. Iranian authorities said the reversal came due to ongoing US restrictions on its ports and shipping routes. Officials stated the strategic waterway […]
US expects Iran conflict to end within weeks
DUBAI/WASHINGTON/PARIS — The United States (US) expects its ongoing military operations against Iran to conclude within weeks rather than months, Secretary of State Marco Rubio said on Friday, signalling a potential near-term end to the escalating conflict. Read More: Trump seeks to end Iran conflict within six weeks Speaking after meetings with G7 counterparts in France, Rubio stated […]
Iran launched missile strike on Tel Aviv as conflict intensifies
Tehran/Tel Aviv — Iran launched missile strikes on Tel Aviv, including projectiles carrying cluster warheads, in what it described as retaliation for the killing of senior Iranian official Ali Larijani, according to state media. Read More: Iran missile barrage triggers explosions across Tel Aviv Israeli authorities said the attack killed at least two people overnight, bringing the […]
Govt holds fuel prices steady despite global oil surge
ISLAMABAD — Prime Minister Shehbaz Sharif announced on Friday that the government has decided not to increase petroleum product prices despite a sharp rise in global oil rates, saying the move is aimed at easing the financial burden on citizens. وزیرِ اعظم محمد شہباز شریف کا عالمی منڈی میں تیل کی مزید قیمتیں بڑھنے کے […]
US taps massive oil reserves after Iran crisis
The United States has announced plans to release oil from its strategic reserves to ease rising global prices. The move follows supply disruptions caused by the ongoing conflict involving Iran, the United States, and Israel. The decision aims to stabilize markets and prevent further pressure on global energy supplies. US Energy Secretary Chris Wright said […]
Oil surges as Hormuz disruption shakes global supply
Global oil prices surged sharply on Friday as escalating conflict in the Middle East disrupted energy supplies and forced buyers to seek alternative crude sources. The surge follows the effective closure of the Strait of Hormuz, a critical shipping route responsible for transporting a significant portion of the world’s oil. Read More: Pakistan seeks Saudi oil […]