Pakistan is considering buying liquefied natural gas (LNG) on the spot market to offset supply disruptions caused by the Iran war but would favour government-to-government deals to avoid having to pay steep premiums, its petroleum minister said. Qatar’s force majeure has forced Pakistan to make costly spot purchases or find alternative fuels ahead of summer demand. Spot LNG cargoes have surg
The US dollar held near its lowest level since early March against major currencies on Thursday, as the White House’s optimism over a peace deal with Iran buoyed sentiment and encouraged traders to shed safe-haven positions. President Donald Trump said the US-Israeli war on Iran was “close to over,” while the White House expressed optimism about a deal, saying more in-person talks would like
Oil prices were little changed on Thursday, reversing earlier declines, on scepticism that peace talks between the US and Iran will reach a deal to end the war that has bottled up oil output from the key Middle East producing region. Brent crude futures were up 9 cents to $95.02 a barrel at 0427 GMT. US West Texas Intermediate crude futures climbed 44 cents to $91.73 a barrel. Both benchmark
The State Bank of Pakistan (SBP) said on Thursday it had received funds of US$ 2 billion from Ministry of Finance, Kingdom of Saudi Arabia. On March 16, Finance Minister Muhammad Aurangzeb informed that Saudi Arabia had committed $3 billion in additional deposits, with disbursement expected in the coming week. He further stated that the existing $5 billion Saudi deposit would no longer remai
Gold prices rose on Thursday, supported by a weaker dollar, while investors weighed growing optimism over a potential US-Iran deal to end the war that has pushed up energy prices and fuelled fears of higher inflation. Spot gold rose 0.7% to $4,821.44 per ounce by 0301 GMT. US gold futures for June delivery gained 0.4% to $4,844.40. The US dollar hovered near its lowest level in six weeks, ma