Oil prices eased on Tuesday after climbing by as much as 6% in the previous session on signs the U.S. Navy is loosening Iran’s closure of the key Strait of Hormuz waterway, potentially opening up supply from the key Middle East producing area. The U.S. on Monday launched a new operation aimed at reopening Hormuz to shipping and Maersk said later its Alliance Fairfax, a U.S.-flagged vehicle ca
The Pakistan Stock Exchange (PSX) kicked off the week on a positive note, with the benchmark KSE-100 Index gaining nearly 3,300 points during the opening minutes of trading on Monday. At 9:29am, the benchmark index was hovering at 166,269.73, up by 3,275.56 points or 2.01%. Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exp
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.