PSX market tumbled sharply on Monday as escalating tensions in the Middle East triggered panic selling among investors, pushing the benchmark KSE-100 Index to a steep intraday decline. Read More: PSX suffers historic 15600-point crash amid war escalation The index dropped by 9,453.22 points, or about 6%, during early trading to reach 148,042.88 points, down from […]
oil price surge
Oil prices soar to $150 amid Gulf export shutdown threat
Global oil markets surged sharply on Friday as Qatar warned that escalating tensions in the Middle East could force Gulf energy producers to halt exports, potentially pushing crude prices to $150 per barrel. The announcement sent shockwaves through international markets, highlighting risks to energy security and supply chains. West Texas Intermediate crude rose 4% to […]
Oil prices surge amid rising Middle East conflict risks
Oil prices rose for a third consecutive day as the widening U.S.-Israeli air campaign against Iran and threats to the Strait of Hormuz heightened fears of global supply disruptions. Brent crude futures climbed to $78.83 per barrel, up $1.10 or 1.4 percent, while U.S. West Texas Intermediate rose 74 cents to $71.97, reflecting sustained market […]
Drone strike forces Aramco to shut key refinery
Saudi Aramco has shut down its Ras Tanura refinery following a drone strike, taking precautionary measures amid escalating regional tensions after U.S.-Israeli attacks on Iran. The temporary closure aims to safeguard infrastructure and personnel while authorities assess the security situation across the Gulf. The Ras Tanura complex, located on Saudi Arabia’s Gulf coast, hosts one […]
PM Shehbaz forms 19-member body to stabilize fuel market
Prime Minister Shehbaz Sharif has constituted a 19-member high-level committee to monitor fuel prices and ensure uninterrupted petroleum supply across Pakistan amid rising global oil prices and growing geopolitical uncertainty. The move aims to prevent artificial shortages and protect consumers from sudden market shocks. According to an official notification, the committee will conduct daily reviews […]
Oil prices rise amid Iran unrest, Russia attacks, Venezuela deals
Oil prices surged over 2% on Friday as the market reacted to growing supply risks stemming from intensifying protests in Iran, escalating Russian strikes in Ukraine, and potential Venezuelan oil deals. Brent futures settled $1.35 higher at $63.34 per barrel, while US West Texas Intermediate rose $1.36 to $59.12 per barrel, reflecting investor concerns over […]
US seizes Venezuelan oil tanker, tensions soar
The US seized a sanctioned oil tanker off Venezuela’s coast, President Donald Trump announced Wednesday, escalating tensions and sending oil prices higher amid ongoing pressure on President Nicolas Maduro. Trump described the tanker as “very large, largest ever,” and hinted that the US would retain the crude. The action marks the first known US intervention […]