Global crude oil prices have surged to their highest levels in four years following renewed tensions surrounding Iran and continued uncertainty over the Strait of Hormuz. Read More: Pakistan oil bill hits record $800m: PM Shehbaz The latest increase came after US President Donald Trump announced that restrictions linked to Iran’s maritime activities would remain in place, […]
WTI crude
Oil prices surge as US Iran tensions escalate
Global oil markets recorded sharp gains as escalating tensions between the United States (US) and Iran raised fears of prolonged supply disruptions. Prices surged after President Donald Trump vowed to intensify military operations, heightening uncertainty in already volatile markets. Read More: IMF urges Pakistan to revise oil prices amid Middle East crisis Brent crude futures climbed nearly […]
Oil prices drop as hopes grow for end to Iran conflict
Global oil prices fell sharply on Tuesday after reaching their highest levels in more than three years, as comments from US President Donald Trump raised expectations that the ongoing conflict in the Middle East could end sooner than anticipated. Read More: Govt scrambles to secure fuel as global oil prices surge International benchmark Brent crude dropped $6.51, […]
Brent gains weekly as Iran-US tensions lift prices
Brent crude oil prices closed higher on Friday after late-session buying driven by geopolitical concerns, ending the week with strong gains. Traders reacted to renewed uncertainty surrounding potential US military action and tensions with Iran. As a result, short-covering pushed prices upward near the close of trading. The market also recorded a weekly increase of […]
Oil prices climb amid rising US-Iran tensions
Oil prices edged higher on Thursday as escalating tensions between the United States and Iran fueled investor concerns, pushing Brent crude near $69.74 and U.S. West Texas Intermediate to $65 per barrel. The gains reflect geopolitical uncertainty coupled with expectations of steady global demand. Brent crude futures rose 34 cents, or 0.49%, while WTI increased […]
Oil prices hold firm as US–Iran tensions support market
Global oil prices remained steady on Wednesday as ongoing diplomatic talks between the United States and Iran created uncertainty, while geopolitical tensions continued to provide underlying support to the energy market. Brent crude traded near $69 per barrel, while U.S. West Texas Intermediate hovered around $64, reflecting cautious optimism among traders waiting for clearer signals […]
Oil holds near six-month high amid US-Iran tensions
Oil prices remained near six-month highs on Friday, as investors closely monitored rising geopolitical risks involving the United States and Iran, while assessing supply disruptions and global economic conditions. Brent crude futures settled at $70.69 per barrel, down 2 cents or 0.03%, while US West Texas Intermediate crude closed at $65.21 per barrel, down 21 […]
Pakistan receives first US crude oil shipment, marks energy milestone
Pakistan received its first-ever shipment of US crude oil on Tuesday, marking a historic milestone in the country’s energy and trade sector. The Suezmax-class vessel MT Pegasus, carrying 1 million barrels of West Texas Intermediate (WTI) crude, docked at Cnergyico’s offshore terminal in Balochistan. The shipment strengthens Pakistan’s energy diversification and deepens economic ties with […]
Oil Prices Drop as Israel-Hamas Ceasefire Plan Eases War Risk Premium
SINGAPORE – Oil prices fell in early Asian trade on Thursday as Israel and Hamas agreed to the first phase of a plan to end the war in Gaza, reducing the geopolitical risk premium that had been supporting global oil markets. Brent crude futures dropped 51 cents (0.77%) to $65.74 per barrel, while U.S. West […]
Oil Rises as OPEC+ Announces Modest Output Hike
SINGAPORE— Oil prices rose around 1.5% on Monday after OPEC+ announced a more modest production increase than expected, easing fears of a supply surge. However, analysts say that weak global demand could cap any near-term rally. Brent crude futures rose 91 cents (1.4%) to $65.44 a barrel by 0315 GMT, while U.S. West Texas Intermediate […]