Pakistan has found an alternative oil supply route as a $430 million US crude deal by the private sector has helped reduce reliance on the Hormuz route and narrow the trade gap. In a notable private sector development with broader economic implications, Cnergyico Pk has executed a commercial transaction for the import of six million barrels of US West Texas Intermediate (WTI) crude valuing at a
The Consulate General of Pakistan in coordination with Trade Development Authority of Pakistan (TDAP) organised Pakistan-UAE Trade Conference and Business Networking event at Pakistan Association Dubai. The event was organised in the honor of Pakistani exhibitors participating in Gulfood 2026 being held from 26-30 January 2026. The event attracted a distinguished gathering of Diplomatic Corps r
Oil prices gained further ground on Wednesday as supply concerns lingered after a winter storm disrupted US crude output and exports, while Middle East tensions lent additional support. Brent crude futures rose 28 cents, or 0.4%, to $67.85 a barrel by 0410 GMT, while US West Texas Intermediate crude climbed 35 cents, or 0.6%, to $62.74 a barrel. Both benchmarks surged about 3% on Tuesday. US
Gold broke through $5,200 for the first time on Wednesday, after rising more than 3% on Tuesday, as the dollar plunged to a near four-year low amid persisting geopolitical concerns, ahead of a US Federal Reserve monetary policy decision. Spot gold rose 0.6% to $5,219.97 per ounce, as of 0153 GMT, after scaling a record high of $5,224.95 earlier, up more than 20% since the start of the year.
China has approved its first batch of Nvidia’s H200 artificial intelligence chips for import, two people familiar with the matter told Reuters, marking a shift in position as China seeks to balance its AI needs against spurring domestic development. The approval covers several hundred thousand H200 chips and was granted during Nvidia Chief Executive Jensen Huang’s visit to China this week, the