Karachi, A Pakistan-flagged ship carrying crude oil will reach the Karachi Port on Saturday after crossing through the Strait of Hormuz after the US began its blockade, the government announced here Friday. One more Pak-flagged ship to reach Karachi after crossing Hormuz strait Since the blockade of the Strait of Hormuz began, this is the…
The effective closure of the Strait of Hormuz – now in its fourth week as the conflict deepens – is piling pressure on the US administration and major importers of oil, gas and fuels from the Gulf, forcing a scramble for solutions. A narrow corridor linking the Gulf to global markets, Hormuz has been all…
China expanded its crude oil stockpiles over the first two months of the year, thanks to higher imports and a ramp-up in domestic production, Reuters’ Clyde Russell reported, adding that the stock buildout strengthened despite higher refining rates in the period. Imports of crude oil to China averaged 11.99 million barrels daily, Russell said, adding…
Oil prices surged past $100 a barrel for the first time in almost four years as more major Middle East producers cut production, the Strait of Hormuz remained largely closed, and the United States warned it could deepen a conflict that has already shaken global energy markets. Several Asian stock markets fell sharply on Monday…
ADVERTISEMENT European stocks rose on Wednesday morning after a string of strong corporate results a day earlier, while equities were also boosted by remarks from Federal Reserve Chair Jerome Powell. In Philadelphia on Tuesday, Powell suggested that another interest rate cut could come later this month in the US. In Europe, shares in Netherlands-headquartered ASML,…
Wall Street’s attention in the week ahead will largely be fixed on a scheduled address from the Federal Reserve Chair, Jerome Powell, alongside the onset of the third quarter earnings season. Economic data, typically a key driver, will take a backseat due to ongoing delays caused by the US government shutdown. Mr Powell is due…
RBI Governor Sanjay Malhotra on Friday said gold prices may now be acting as a fresh barometer of global uncertainty, similar to how crude oil once reflected geopolitical risks, even as he cautioned of a potential correction in global equity markets.Speaking at the Kautilya Economic Conclave 2025, Malhotra noted that despite widespread fiscal stress, oil…
By Florence Tan SINGAPORE (Reuters) -Oil prices slipped nearly 1% on Monday after Iraq’s Kurdistan region resumed crude oil exports via Turkey over the weekend and as OPEC+ plans another oil output hike in November, adding to global supplies. Brent crude futures fell 63 cents, or 0.90%, to $69.50 a barrel by 0023 GMT after…
Wall Street is set for a busy week with a plethora of economic data releases scheduled. The primary focus for market participants will centre on the September non-farm payrolls report and the August job openings numbers. Beyond these key employment figures, traders will be closely monitoring releases covering S&P final manufacturing and services PMIs, consumer…
Tankers in Spain Photographer: DeAgostini/Getty Images (Bloomberg) — The US sanctioned a Greek shipper and two Chinese port-terminal operators that it said facilitated the transport of Iranian oil, broadening a so-called maximum pressure campaign against Tehran. Antonios Margaritis was designated, along with a web of companies overseen by him in Greece and the Marshall Islands,…