Author: Admin

Govt Defends Fuel Price Hike, Says Pakistan Still Below Global Surge

Admin
energy-costs

ISLAMABAD: The government on Monday defended recent increases in petroleum prices, arguing that Pakistan’s fuel hikes remain significantly lower than those witnessed globally amid a sharp surge in energy costs. In a statement on social media platform X, Advisor to the Finance Minister Khurram Schehzad said that petrol and diesel prices have risen far more steeply in both developed and emerging economies. “Globally, fuel prices have increased by 27% to 71%, compared to Pakistan’s relatively moderate rise of 22–24%,” he noted, adding that many countries have passed on international price…

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Iran Rejects US Talks as Trump Delays Strikes on Power Grid

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USA-Iran

WASHINGTON/OCCUPIED JERUSALEM/TEL AVIV: Iran on Monday denied holding any negotiations with the United States, contradicting claims by Donald Trump, who announced a five-day delay in planned strikes on Iran’s power grid, citing “productive” discussions with Iranian officials. Tehran dismissed the assertion as misinformation aimed at influencing global financial and oil markets. Iranian Parliament Speaker Mohammad Baqer Qalibaf rejected reports of engagement, calling them “fake news” designed to manipulate markets and deflect from mounting pressures on Washington and its allies. Despite the denial, European and regional sources indicated that indirect communication…

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Pakistan Emerges Key Diplomatic Bridge as US–Iran Backchannel Opens

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iran-uae

ISLAMABAD: Pakistan has moved into the diplomatic spotlight on the 24th day of the US-Israel conflict with Iran, playing a pivotal role alongside Turkiye and Egypt in facilitating indirect communication between Washington and Tehran, officials said. The coordinated effort is being credited with helping secure a five-day pause in planned US strikes on Iranian energy and power infrastructure, announced by Donald Trump, who cited “productive conversations” with Iran that could potentially lead to a broader resolution. According to officials, the backchannel diplomacy involved indirect exchanges between US Special Envoy Steve…

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Total Energies Exits US Offshore Wind, Redirects $1bn to Oil and Gas

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Total-Energies

HOUSTON: French energy giant Total Energies and the United States government have agreed to redirect nearly $1 billion from offshore wind investments toward oil and natural gas development, signaling a major policy shift in US energy strategy. The move aligns with the administration of Donald Trump, which has actively discouraged offshore wind expansion while promoting domestic fossil fuel production. The company will halt development of new offshore wind projects in the US, while Washington will reimburse approximately $1 billion previously paid by TotalEnergies for lease acquisitions. US Interior Secretary Doug…

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Oil Prices Plunge 10% as US–Iran Talks Ease War Fears

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Oil-Price1

NEW YORK: Oil prices tumbled by around 10 percent on Monday, hitting a one-week low after Donald Trump announced a five-day postponement of potential US military strikes on Iranian power plants, citing constructive diplomatic talks aimed at de-escalating the ongoing Middle East conflict. Benchmark Brent crude futures dropped $11.17, or 10 percent, to $101.02 per barrel, while West Texas Intermediate (WTI) fell $9.28, or 9.5 percent, to $88.95. The decline followed weeks of extreme volatility, with Brent recently reaching its highest level since July 2022. The four-week-long conflict has severely…

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