Oil prices ticked higher in early trade on Wednesday, climbing for a fourth straight day on supply uncertainty as investors weighed conflicting messages from Tehran and Washington on whether the Strait of Hormuz is open to ships. Brent crude futures climbed 26 cents, or 0.29%, to $91.28 by 0004 GMT, while US West Texas Intermediate crude futures were up 37 cents to $85.31 a barrel. Both co
The Pakistan Stock Exchange (PSX) closed Monday's session marginally higher, with the benchmark KSE-100 Index gaining nearly 398 points as strong buying in oil & gas marketing, exploration and refinery stocks offset losses in banks, cement and fertilizer sectors. Market sentiment remained supported by renewed interest in energy stocks as oil prices held firm amid concerns over potential supply
Pakistan’s largest refiner Cnergyico is increasing purchases of U.S. crude as the disruption around the Strait of Hormuz prompts Islamabad to diversify oil supplies and reduce reliance on Gulf shipping routes. The refiner imported around 8.1 million barrels of U.S. crude over the past nine months, including 7.1 million barrels valued at nearly $750m during the fiscal year ended June, according
SPEL Limited (PSX: SPEL) reported a 9% decline in its net profit for the fiscal year ended June 30, 2026, recording Rs1.14bn compared to Rs1.25bn in the preceding year. Alongside the financial results, the company announced a cash dividend of Rs0.50 per share. Reflecting this bottom-line compression, the company's basic and diluted earnings per share (EPS) fell to Rs5.99 from Rs6.60 in FY25.
The government is to establish a 400-acre apparel zone at Port Qasim, eyeing over 138,000 jobs and annual exports of nearly $2.2bn in the first phase, according to project projections. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry chaired a meeting on the proposed garment city project, where he said the export-oriented manufacturing cluster would focus on high-value appar