Oil prices inched down on Friday and were on track for a weekly decline after the United States and Iran extended nuclear talks, easing concerns about potential hostilities that could disrupt supply, while OPEC+ may resume output hike at its Sunday meeting. Brent crude futures lost 5 cents to $70.70 a barrel by 0331 GMT. U.S. West Texas Intermediate crude fell 1 cent to $65.20. For the week,
Gold was broadly steady on Friday, as a drop in US Treasury yields eased the opportunity cost of holding bullion, offsetting a firm dollar and signs of progress in US-Iran talks. Spot gold held at $5,184.69 per ounce by 0301 GMT. Gold was set for its seventh straight month of gains, rising more than 6% in February, as US tariff uncertainty and mounting US-Iran tensions boosted its safe-haven
Selling pressure continued unabated at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 700 points during the opening hours of trading on Thursday. At 9:35am, the benchmark index was hovering at 163,902.49, a decrease of 723.80 points or 0.44%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and
Oil and Gas Development Company Limited (OGDCL) said on Wednesday it had received Rs7.725 billion from Power Holding (Private) Limited (PHL), its eighth consecutive monthly interest payment under the government’s circular debt settlement plan. The OGDCL disclosed in a notice to the Pakistan Stock Exchange today. The total interest amount of Rs92 billion is to be repaid in twelve equal monthl
The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Wednesday. At close, the local currency settled at 279.51, registering a gain of Re0.01 against the greenback. On Tuesday, the local currency closed at 279.52, against the dollar, according to the State Bank of Pakistan (SBP). Additionally, an International Monetary Fund (IMF) staff mission will