Oil prices posted modest gains on Friday as investors remained cautiously optimistic about ongoing diplomatic efforts between the United States and Iran, while monitoring crude supplies from the Middle East ahead of the long US holiday weekend. International benchmark Brent crude rose 17 cents, or 0.24%, to $72.10 per barrel, while US West Texas Intermediate […]
oil prices
Oil climbs as Iran-US talks falter
Oil prices rose on Wednesday as uncertainty over Iran-US negotiations renewed concerns about crude supplies from the Middle East. Investors feared stalled diplomatic efforts could prolong regional supply disruptions. The gains reflected growing caution in global energy markets. Brent crude futures rose 33 cents, or 0.45%, to $73.28 a barrel, while US West Texas Intermediate […]
PSX falls over 300 points
The Pakistan Stock Exchange (PSX) erased early gains on Monday, with the benchmark KSE-100 Index falling more than 300 points by midday. Investor sentiment weakened amid rising global oil prices and uncertainty over the fragile United States-Iran ceasefire. The decline reflected cautious trading despite positive early momentum. The market opened higher, with the KSE-100 Index […]
Oil prices rose after renewed US-Iran strikes disrupted shipping through Strait of Hormuz
Oil prices climbed on Monday as renewed military exchanges between the United States (US) and Iran raised concerns over energy supplies and shipping through the Strait of Hormuz, one of the world’s most important oil transit routes. Brent crude futures rose 58 cents, or 0.8%, to $72.57 per barrel, while US West Texas Intermediate (WTI) […]
Rebound in tech shares pushes world markets higher, while oil prices fall
World shares were mostly higher Thursday, led by tech-driven gains in Japan and South Korea as major computer chipmakers´ stocks surged following upbeat earnings reports from U.S. giants like Qualcomm and Micron Technology. Oil prices slipped closer to where they were before the war with Iran began. Qualcomm´s share price surged nearly 7% in afterhours […]
Oil prices retreat as Middle East supply recovers
Global oil prices fell sharply on Thursday, returning to levels seen before the Iran conflict as markets responded to improving supply conditions and reduced concerns over disruptions in the Middle East. Brent crude for August delivery dropped 1.46 percent to $72.66 per barrel, while US West Texas Intermediate fell 1.19 percent to $69.50 per barrel, […]
Oil prices fall after US, Iran talks ease supply fears
Global oil prices fell on Monday after diplomatic talks between the United States (US) and Iran concluded in Switzerland, easing fears of a potential supply disruption in international energy markets. Brent crude dropped by $1.68, or 2.09%, to $78.89 per barrel, while US West Texas Intermediate (WTI) crude also declined ahead of the contract expiry. […]
Petrol, diesel prices may see major relief from June 20
ISLAMABAD: Consumers across Pakistan may receive significant relief as the federal government is considering a substantial reduction in petroleum prices from June 20 following a decline in global crude oil prices. According to sources, petroleum products could become considerably cheaper after international oil markets reacted positively to easing geopolitical tensions in the Middle East. The […]
G7 leaders sidestep war economic fallout
Rising inflation and a sharp increase in oil prices are weighing on global economic growth as G7 leaders gather in France. The slowdown follows months of conflict involving the United States, Israel, and Iran, which disrupted energy markets worldwide. Governments, businesses, and consumers are facing higher costs despite a recent agreement aimed at restoring stability. […]
Pakistan could gain most if Iran oil exports resume: official
ISLAMABAD: Pakistan would be among the biggest beneficiaries if Iran is allowed to re-enter global energy markets and resume oil and gas exports, according to a senior government adviser. Finance Ministry adviser Khurram Shahzad said that any easing of sanctions on Iran and its reintegration into the international oil economy could significantly improve regional energy […]