Oil prices climbed on Friday but were on track for a weekly loss as investors doubted the prospects of a breakthrough in US-Iran peace talks. Brent crude futures rose $1.66, or 1.6%, to $104.24 a barrel by 0405 GMT, while US West Texas Intermediate futures were up $1.11, or 1.2%, at $97.46. On a weekly basis, Brent was 4.6% lower and WTI was down 7.6%, with prices fluctuating sharply as expe
The Pakistan Stock Exchange (PSX) extended its bullish momentum on Wednesday as investor sentiment improved amid easing global oil prices and optimism surrounding geopolitical developments in the Middle East, with the benchmark KSE-100 index jumping 1,934.74 points, or 1.19%, to settle at 164,831.42. The market presented a mix of volatility and caution during the session, moving between an intr
Pakistan formally reopened its offshore exploration frontier after nearly two decades on Wednesday as the government signed Production Sharing Agreements (PSAs) and Exploration Licences (ELs) for offshore blocks awarded under the Offshore Bid Round 2025. Minister for Petroleum Ali Pervaiz Malik witnessed the signing ceremony for the offshore exploration blocks, which are located in the Indus an
Asian Infrastructure Investment Bank (AIIB) Vice President Konstantin Limitovskiy met Federal Minister for Communications Abdul Aleem Khan and Power Minister Sardar Awais Ahmed Khan Leghari to discuss infrastructure and energy projects, according to an official statement on Wednesday. Abdul Aleem Khan said the government aims to complete vital transportation projects within two years, with the
The Petroleum Division has opposed increasing the petroleum levy tax target and suggested cutting it to Rs1 trillion while reducing the rate to Rs50 per litre until global prices remain high, warning that higher levies were creating affordability issues and threatening social stability. The division has submitted its budget 2026-27 recommendations to the finance ministry. Discussions have also