The U.S. said on Thursday it has imposed new sanctions on Iran’s military oil trade, even as Washington and Tehran reached a tentative agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz. The Treasury Department said it had sanctioned eight vessels involved in transporting Iranian crude oil and petroleum products to global markets. The vess
Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the US and Iran had agreed to extend a ceasefire, though it had yet to be finalised. Brent crude futures for July fell 1.1% or $1.04 to $92.67 a barrel at 0330 GMT. US oil futures fell $1.26, or 1.4%, to $87.64 a barrel. Brent plunged 10.5% this week - the
Massive buying was observed at the Pakistan Stock Exchange (PSX) on optimism that the US and Iran were moving closer towards a peace deal, with the benchmark KSE-100 Index gaining over 3,600 points during the opening minutes of trading on Monday. At 9:34am, the benchmark index was hovering at 171,456.12, up by 3,611.88 points or 2.15%. Across-the-board buying was observed in key sectors, inc
Stocks surged on Monday while the US dollar and oil prices slid as the prospect of a deal to end the Iran war buoyed risk appetite although a lack of clarity over when the Strait of Hormuz would open kept enthusiasm in check. The nearly three-month-long conflict in the Middle East has driven energy prices sharply higher and reshaped the global rates outlook, as inflation concerns intensify fo
The role of renewables in Pakistan’s fuel mix has shifted from negligible to substantial over just a few years, but the country still has not signaled a commitment to the rapid energy transition away from coal that is already under way, a recent report has said. According to Boom and Bust 2026, Global Energy Monitor’s (GEM) definitive report on the global coal fleet now in its eleventh year, Pa