Author: Admin

Attacks on Ships in Strait of Hormuz Heighten Global Energy Security Fears

Admin
New-Project98

DUBAI / TEHRAN: Escalating tensions in the Middle East have pushed global energy markets to the brink after multiple commercial vessels were struck near the strategic Strait of Hormuz, raising concerns about disruptions to a vital route that carries nearly 20 percent of the world’s oil supply. According to reports, Iran launched fresh attacks against Israel and other targets across the region on Wednesday, demonstrating its ability to retaliate despite intense military strikes by the United States and Israel. The situation intensified as at least three commercial vessels were hit…

Read More

Pakistan Allows Oil Imports on CIF Basis for 60 Days Amid Supply Challenges

Admin
New-oil3

ISLAMABAD: In response to growing difficulties in securing petroleum imports due to ongoing geopolitical tensions, the State Bank of Pakistan (SBP) has permitted the import of crude oil and petroleum products on a CIF (Cost, Insurance and Freight) basis for a period of 60 days to help ensure uninterrupted fuel supplies. According to a circular issued by the central bank on Wednesday night, the temporary measure came into effect from March 11 in view of the prevailing situation and the critical importance of crude oil and petroleum products for the…

Read More

Fuel Price Hike Intensifies Ramazan Inflation Burden Across Pakistan

Admin
petrol-price

LAHORE / PESHAWAR / KARACHI: The recent Rs55 per litre increase in fuel prices has triggered widespread economic ripple effects across Pakistan, driving up transportation costs, pushing food prices higher and placing additional strain on households already grappling with traditional inflation during the holy month of Ramadan. Citizens from different walks of life say the sharp hike has further complicated daily survival amid rising living costs. “It was the last thing Pakistanis needed and the government delivered it mercilessly,” said one respondent, adding that managing household expenses has become an…

Read More

Oil Price Surge Narrows Scope for Interest Rate Cuts in Emerging Markets

Admin
New-Oil-1

LONDON: A sharp surge in global oil prices triggered by the escalating conflict involving Iran has significantly reduced the room for interest rate cuts among emerging market central banks, as policymakers confront rising inflation risks and growing market uncertainty. After years of economic shocks — including the COVID-19 pandemic and the Russian invasion of Ukraine — many central banks had recently begun signaling optimism about easing inflation and strengthening global economic resilience. However, the latest escalation in the Middle East following military actions by the United States and Israel against…

Read More

Saudi Arabia Activates Desert Oil Pipeline to Bypass Strait of Hormuz Crisis

Admin
New-Project97

RIYADH: Amid severe disruptions to global oil shipments caused by escalating Middle East tensions, Saudi Arabia has activated a long-standing contingency plan to transport crude oil across the desert to the Red Sea, bypassing the strategic Strait of Hormuz. With the critical shipping route effectively blocked due to the ongoing conflict involving Iran, the Gulf’s major petroleum exporters are facing an unprecedented logistical crisis. Attacks on energy infrastructure and growing regional instability have forced producers to look for alternative routes to maintain global supply. To manage the disruption, Saudi state-owned…

Read More