Following the Middle East (ME) crisis, Pakistan’s Karachi Port has set a new record by handling 111,300 twenty-foot equivalent units (TEUs) in a single month. The port achieved this milestone recently by maintaining strong cargo operations. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced this here on Wednesday, saying that to meet the challenges, the ministry, in
Oil prices surged over 6 percent on Wednesday to settle at their highest in weeks, as deadlocked US-Iran negotiations made investors more concerned about prolonged disruptions to Middle Eastern supply. US government data showed a bigger weekly draw in crude and fuel inventories than expected, which also put upward pressure on oil prices. Brent crude futures for June rose for the eighth conse
The dollar hovered near its highest in more than two weeks on Thursday after some Federal Reserve policymakers turned hawkish, sending yields to a one-month top, while the Japanese yen’s break above 160 sharpened focus on intervention risks. Fed Chair Jerome Powell closed out his eight years with rates on hold amid rising inflation concerns. The Fed’s 8–4 decision to leave the rate unchanged
Gold prices rebounded on Thursday from a one-month low hit the day before, helped by a softer US dollar, although elevated oil prices kept fears alive of inflation and higher-for-longer interest rates. Fundamentals Spot gold was up 0.6% at $4,566.73 per ounce, as of 0105 GMT, after falling to its lowest level since March 31 in the previous session. US gold futures for June delivery rose 0
Oil prices extended gains on Thursday on concerns supply from the key Middle East producing region will remain bottled up for longer as talks to end the US-Israeli war against Iran have deadlocked. Brent crude futures for June rose $1.91, or 1.62%, to $119.94 a barrel as of 0057 GMT after gaining 6.1% in the previous session. The June contract, which has increased for a ninth day, expires