Oil prices rose more than 5 percent on Wednesday after Iran’s Revolutionary Guards threatened to attack several energy facilities across the Middle East in retaliation, heightening the risk of further disruptions to energy supplies in the region. Brent futures rose USD5.26, or 5 percent to USD108.66 a barrel at 1105 a.m. ET (1505 GMT) on Wednesday, having risen to as high as USD109.95 earlier i
Oil prices rose as much as 3% on Thursday after Iran attacked several energy facilities across the Middle East following a strike on its South Pars gas field, a major escalation in Tehran’s war with the U.S. and Israel. Brent futures were up $3.69, or 3.44%, to $111.07 by 0142 GMT, while U.S. West Texas Intermediate crude rose $2.29, or 2.38%, to $98.61. Brent closed up 3.8% on Wednesday,
The Ministry of Commerce has formally sought the intervention of aviation authorities over complaints from meat exporters regarding additional logistics charges imposed on export consignments, marking a significant development in an ongoing dispute that industry representatives warn could disrupt Pakistan’s meat exports. In an official letter dated March 17, 2026, the Ministry of Commerce asked
Asian utilities are boosting coal-fired power generation to cut costs and safeguard energy supply, industry officials say, as the US-Israeli war on Iran chokes liquefied natural gas (LNG) shipments and soaring prices threaten to suppress LNG demand. Asia spot LNG prices have doubled to three-year highs in the second major supply shock in four years, as shipping through the Strait of Hormuz has
Saif Power Company Limited (SPL), which owns a 225MW power plant, has sought support from Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) for the release of its pending sales tax refund from the Federal Board of Revenue (FBR). In a letter to the Chief Executive Officer of CPPA-G, the Chief Financial Officer of SPL referred to the Power Purchase Agreement (PPA) dated April 30, 2007,