Shares edged higher while oil prices flatlined in Asia on Monday, as investors drew comfort from signs of patchy progress in settling the Middle East conflict at the start of a week packed with earnings and key economic data. President Donald Trump said the United States would begin an effort to free up ships stranded in the Strait of Hormuz on Monday morning, but gave no details of the plan.
Wafi Energy Pakistan Limited (WEPL) reported a profit after tax of Rs2.16 billion, compared with Rs873 million in first quarter of 2026, a growth of 148 percent. The performance reflects steady operations and continued investment through a period of considerable global energy market volatility. The quarter also brought external recognition across two distinct areas of the company’s work. Wafi E
The United Arab Emirates has left the Organization of Arab Petroleum Exporting Countries (OAPEC), an alliance that does not set production policies for its members, a statement from the intergovernmental organisation showed on Sunday. The statement follows UAE’s surprise announcement on April 28 of its departure from the OPEC and OPEC+ producer groups, to prioritise boosting its own output.
Gold prices nudged lower on Monday, weighed down by inflation worries that clouded the U.S. monetary policy outlook, while markets awaited developments in U.S.-Iran peace negotiations. Fundamentals Spot gold was down 0.3% at $4,599.45 per ounce, as of 0114 GMT. US gold futures for June delivery fell 0.7% to $4,611.40. US President Donald Trump said that Washington would start an effort
Oil prices eased on Monday after US President Donald Trump said the United States would begin an effort to free up ships stranded in the Strait of Hormuz, however the lack of a U.S.-Iran peace deal kept prices supported above $100. Brent crude futures fell 64 cents, or 0.59%, to $107.53 a barrel by 2308 GMT after settling down $2.23 on Friday. US West Texas Intermediate was at $101.10 a