Oil prices fell more than 1% on Wednesday, extending this week’s losses and trading near four-month lows, on signs that more oil tankers stranded in the Gulf are set to move out of the Strait of Hormuz. Brent crude futures fell 78 cents, or 1.0%, at $76.30 a barrel as of 0350 GMT. US West Texas Intermediate slipped 78 cents, or 1.1%, to $72.43 a barrel. Both benchmarks settled down around 1%
An international investor has shown interest in buying the majority shares of TPL Trakker Limited, a subsidiary of TPL Corporation Limited, with TPL Holdings (Private) Limited serving as its ultimate parent company. “We are pleased to inform you that an international investment group has expressed its interest in acquiring majority shareholding stakes in TPL Trakker Limited, a subsidiary of TPL
Positive sentiments were observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 500 points during the opening minutes of trading on Tuesday. At 9:45am, the benchmark index was hovering at 178,970.18, up by 498.32 points or 0.28%. Buying was observed in key sectors, including cement, commercial banks, oil and gas exploration companies, OMCs, and power gene
Asian stocks mostly eased and oil prices regained strength early on Tuesday after the US waived sanctions on Iran, while traders grappled with rising expectations the Federal Reserve may take more aggressive action to tackle inflation later this year. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5%, while S&P 500 e-mini futures slipped 0.2%. Brent crude was up 0.2% at $78
The United States temporarily suspended sanctions on Iranian oil on Monday after Vice President JD Vance said Iran would let UN nuclear inspectors return to the country, following talks in Switzerland. Last week, Tehran and Washington signed a memorandum of understanding laying the groundwork for the negotiations, after nearly 40 days of fighting that was followed by a shaky and often-broken ce