Category: highlights

Oil dips as economic concerns, supply and demand expectations weigh

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oil price

LONDON: Oil prices slipped on Thursday after surging in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns and demand versus supply expectations. Brent futures were down 37 cents, or 0.5%, at $70.58 a barrel at 10:25 a.m. EDT (1425 GMT), while U.S. West Texas Intermediate crude futures fell 39 cents, or 0.6%, to $67.29 a barrel. Both benchmarks rallied about 2% on Wednesday after U.S. government data showed tighter-than-expected oil and fuel inventories. U.S. gasoline inventories fell by 5.7 million barrels, more…

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IEA sees global oil market surplus for 2025 as demand disappoints

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Oil prices

LONDON: Global oil supply could exceed demand by around 600,000 barrels per day this year, the International Energy Agency said on Thursday, due to growth led by the United States and weaker than expected global demand. The outlook of ample supplies despite U.S. sanctions on major exporters Russia and Iran highlights the challenge for OPEC+, or the Organization of the Petroleum Exporting Countries plus Russia and other allies, in balancing the market. “The United States is currently producing at record highs and is forecast to be the largest source of…

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Pakistan train hijack: China extends help to strengthen security – What’s at stake for Beijing?

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PAKISTAN-ATTACK--19_1741794066802_1741794080649.psd

As Pakistan security forces continued to battle the Baloch Liberation Army (BLA) for a second day on Wednesday after the hijacking of a train, the Jaffar Express, in Balochistan, China extended help, expressing readiness to strengthen counter-terrorism cooperation with Islamabad. “We noted the reports and strongly condemn this terrorist attack,” Chinese Foreign Ministry spokesperson Mao Ning said while replying to a question on the train hijacking by the BLA. The spokesperson added, “China stands ready to strengthen counterterrorism and security cooperation with Pakistan and jointly keep the region peaceful, secure and stable.”…

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Gwadar still has no water and power

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gwadar

ISLAMABAD: Ten years after launching the China-Pakistan Economic Corridor (CPEC) and holding 78 progress review meetings, it again emerged on Tuesday that the jewel of the multibillion-dollar initiative, Gwadar, could not shine because it neither has sufficient clean water nor indigenous electricity. The 78th CPEC progress review meeting was not different from dozens of such meetings held in the past where aggressiveness was shown over the lack of progress and new deadlines were set to fulfil obligations under President Xi Jinping’s Belt and Road Initiative (BRI). Federal Minister for Planning…

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Jaffar Express attack: 21 passengers, 4 FC personnel lost lives as security forces kill ‘all terrorists’: DG ISPR

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dg ispr

Terrorists that attacked on Jaffar Express train in Balochistan killed 21 passengers and 4 Frontier Corps (FC), Lieutenant General Ahmed Sharif Chaudhry, Director General of Inter-Services Public Relations (DG ISPR) said on Wednesday while talking to a local TV channel. The DG ISPR said security forces killed 33 terrorists during the clearance operation. He mentioned that the terrorists had killed 21 passengers before the forces could reach them, and no civilian was harmed during the operations. Four FC personnel also lost their lives fighting against train attackers, he added. Terrorists blew up…

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