Oil prices slid about 2 percent on Wednesday after paring deeper losses earlier in the trading session, as Iran reviewed a US proposal to end the war that has disrupted global energy flows from the Persian Gulf. Brent futures fell USD2.27, or 2.2 percent, to settle at USD102.22 a barrel, while US West Texas Intermediate crude futures fell USD2.03, or 2.2 percent, to settle at USD90.32. Earlier
Bank Makramah Limited (BML) has been assigned initial entity ratings of “A-” (Long Term) and ‘A2’ (Short Term) with a “Stable” outlook by VIS Credit Rating Company Limited. The assigned ratings reflect a significant improvement in the bank’s credit profile, underpinned by strong sponsor support, successful recapitalization, ongoing restructuring initiatives, and a strengthened governance and li
The Oil and Gas Development Company Limited (OGDCL) has uncovered a major crude oil theft operation and an illegal refinery in Sindh’s Tando Allahyar district and sought strict legal action against those involved. According to officials, the theft involved illegal tapping of the Kunnar Pasakhi Deep (KPD)-TAY oil field pipeline near Tando Jam, close to the Machhi Hotel police check post. The sto
Gold prices held steady on Thursday, as investors awaited clearer signs of progress in Middle East de-escalation efforts and stayed cautious ahead of fresh geopolitical developments that could shape safe-haven demand. Spot gold was steady at $4,503.29 per ounce as of 0300 GMT. US gold futures for April delivery lost 1.2% to $4,500. Iran said it is reviewing a US proposal to end the war, b
Oil prices climbed on Thursday, recovering some of the previous day’s losses as investors reexamined prospects for de-escalation in the Middle East as Iran said it was still reviewing a U.S. proposal to end the war, which has disrupted energy flows. Brent futures rose $1.13, or 1.1%, to $103.35 a barrel by 0051 GMT, while US West Texas Intermediate crude futures were up $1.08, or 1.2%, at $91