Iranian drone and missile strikes hit Kuwait International Airport, leaving at least 63 people injured and disrupting air travel across the country. Kuwait’s Health Ministry said medical teams responded quickly to the emergency and carried out seven major surgeries for seriously wounded victims. The attack also resulted in one reported death, highlighting the growing risks […]
oil price surge
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 […]
Oil prices surge above $113 amid Iran talks
Global crude oil prices surged sharply as US-Iran negotiations showed no progress, pushing energy markets into volatility. Brent crude crossed $113 per barrel while US West Texas Intermediate traded around $112. The rise reflects growing uncertainty in global diplomatic and energy conditions. Market analysts linked the price surge to stalled talks between Washington and Tehran. […]
Dollar rises sharply as Middle East tensions return
The US dollar strengthened to a one-week high against major global currencies on Monday as renewed geopolitical tensions in the Middle East pushed investors toward safer assets. Market sentiment shifted quickly after developments involving rising conflict risks between the United States and Iran. Consequently, traders reduced exposure to riskier currencies and increased demand for the […]
Oil prices surge as Strait of Hormuz closes again
Oil prices rebounded sharply on Monday after the Strait of Hormuz was reportedly closed again amid renewed tensions between United States and Iran, reversing earlier losses in global markets. Consequently, Brent crude and West Texas Intermediate both recorded gains of more than six percent in early trading. The sudden shift followed conflicting claims over ceasefire […]
Government plans petrol subsidy relief for low-income riders
The Government of Pakistan is preparing a petrol subsidy plan aimed at supporting low-income citizens after a sharp rise in fuel prices increased financial pressure on households across the country. Officials say the relief initiative will mainly assist people registered under the Benazir Income Support Programme, particularly motorcycle and rickshaw drivers who depend on fuel […]
ASEAN ministers call immediate halt to Middle East war crisis
Foreign and economic ministers of the Association of Southeast Asian Nations (ASEAN) urged an immediate stop to the ongoing Middle East war, warning that surging oil prices and disrupted trade are already affecting Southeast Asia’s economies. The bloc emphasized the importance of regional stability and called on all parties to exercise maximum restraint to prevent […]
Iran requires ships to coordinate with navy in Hormuz
Iran has announced that ships passing through the strategically important Strait of Hormuz must coordinate with its navy to ensure safe navigation. Officials say the directive aims to maintain maritime security as regional tensions remain high. The statement came from the Iranian foreign ministry, which emphasized that the waterway’s security is closely linked to the […]
Govt scrambles to secure fuel as global oil prices surge
The federal government held a high-level meeting in Karachi to assess Pakistan’s energy supply situation and evaluate the potential economic impact of rising global oil prices amid escalating tensions in the Middle East. Senior officials reviewed developments in international markets and discussed how the ongoing conflict involving major regional powers could disrupt global energy supply […]
PSX plunges 13,000 points as Middle East war shakes markets
Pakistan’s stock market opened the week under severe pressure as investors reacted sharply to rising geopolitical tensions in the Middle East and increasing uncertainty over Pakistan’s monetary policy outlook. Consequently, the benchmark KSE-100 index plunged more than 13,000 points during early trading on Monday, signaling one of the sharpest market declines in recent months. The […]