The dollar wobbled near a 1-1/2-week high on Thursday as a standoff between Iran and the U.S. in the Middle East war and lack of progress in peace talks pulled oil prices back above $100 per barrel, weighing on investor sentiment. Tehran seized two ships in the Strait of Hormuz on Wednesday, escalating tensions after U.S. President Donald Trump extended a ceasefire with Iran indefinitely wit
Gold fell in choppy trade on Thursday as elevated oil prices fuelled fears of inflation and prolonged high interest rates, while investors looked for clarity on stalled peace talks between the U.S. and Iran. Spot gold was down 0.7% at $4,705.09 per ounce, as of 0215 GMT. U.S. gold futures for June delivery fell 0.6% to $4,722.10. Brent crude oil prices remained above $100 a barrel after
Oil prices were marginally lower on Thursday after big gains in the previous session amid the stalled peace talks between Iran and the United States, and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz. Brent crude futures fell 15 cents to $101.76 a barrel, after settling above $100 for the first time in more than two weeks on Wednesday. West Texas In
Pakistan LNG Limited, a government subsidiary that procures LNG from the international market, has issued a tender seeking liquefied natural gas (LNG) cargoes. According to the advertisement published by PLL on Thursday, the company is seeking bids from international suppliers for three LNG cargoes of around 140,000 cubic metres. PLL is seeking cargoes on a delivered-ex-ship (DES) basis to P
Oil & Gas Development Company Limited (OGDCL) announced on Thursday that it had successfully revived gas production from Jand-1 well, located in Attock District, Punjab. The listed E&P disclosed the development via a notice to the Pakistan Stock Exchange (PSX) today. “Jand-1 well is currently producing over 21 MMSCFD [million standard cubic feet per day] of gas through a 32/64” choke at well