US oil prices settled more than 11% higher and Brent soared nearly 8 percent on Thursday in volatile trading, as traders worried about prolonged disruptions to oil supply the day after President Donald Trump said the United States would continue attacks on Iran. Brent crude futures closed USD7.87, or 7.78 percent, higher at USD109.03 a barrel. US West Texas Intermediate crude futures rose USD11
Bulls roared back at the Pakistan Stock Exchange (PSX) amid hopes of a de-escalation in the Iran-US war, with the benchmark KSE-100 Index gaining over 5,000 points during the trading session on Wednesday. At 10:55am, the benchmark index was hovering at 153,764.13, up by 5,020.82 points or 3.38%. Buying momentum was observed in key sectors, including automobile assemblers, cement, commercial
Stocks and bonds rallied and the dollar wallowed at the start of the Asian trading session on Wednesday on hopes of a de-escalation in the Iran conflict, while significantly better-than-expected economic data for March propelled a rebound in Korean and Japanese shares. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 2.7%, snapping a four-day losing streak as South Korea’s Kos
OPEC oil output plunged in March to its lowest level since the height of the COVID-19 pandemic in June 2020, a Reuters survey found, as the US-Israeli war against Iran effectively closed the Strait of Hormuz and forced export cuts. Crude output by Organization of the Petroleum Exporting Countries members in March fell by 7.3 million barrels per day month-on-month to 21.57 million bpd, the surve
The Federal Board of Revenue (FBR) has allowed sales tax-registered persons to engage one or more licenced integrators, required for integration of its electronic invoicing hardware and software with the Board’s computerised system. The FBR has issued Sales Tax General Order #01 of 2026/ IR Operations here on Tuesday on the subject of “Issuance of Electronic Sales Tax Invoices and Integration o