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 […]
global oil prices
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 […]
Russia backs Venezuela amid tanker blockade tensions
CARACAS/BEIJING/NEW YORK: Russia has pledged full political and diplomatic support to Venezuela as tensions escalate following US action against sanctioned Venezuelan oil tankers in the Caribbean. Read More: Oil price rise on US sanctions, Venezuela tanker risks The commitment was conveyed during a phone call between Russian Foreign Minister Sergei Lavrov and his Venezuelan counterpart Yvan Gil. […]
High oil prices in int’l market cause of readjustment in prices: Fawad
ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain said on Sunday that propaganda about the rise in oil prices was being done as if Pakistanis lived on a separate planet away from the rest of the world. In a tweet, he said if oil and gas prices go up in the world, Pakistan will […]
Oil prices jump on surging US stock demand
NEW YORK: Crude stocks in the US plummeted to their lowest levels in three years due to refinery activity recovering from recent storms, and as a result, oil prices increased $1. Demand for petroleum has risen to pre-pandemic levels, according to latest US economic estimates. Good product supply in the last four weeks came in […]
PSX recovers from its lows, yet closes 0.4% down
Pakistan’s equity market witnessed a volatile week where the benchmark index closed Friday at 37,131 points, down 0.4 percent from last week. Average daily volume remained subdued at 122 million shares while average value traded slid 15 percent to US$33 million per day. At the verge of entering an IMF program, economic clarity continues to […]