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Oil prices surge as US-Iran strikes heighten supply fears

NEW YORK: Oil prices climbed in early trading Wednesday, building on the previous session’s sharp gains, as overnight military exchanges between the United States and Iran escalated tensions in the Middle East and revived fears of supply disruptions through a critical global shipping chokepoint. Brent crude futures rose $1.03, or 1.1%, to $95.68 a barrel ... Read more

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US strike on Iranian wedding kills 4, including child, Red Crescent says

TEHRAN: A U.S. missile strike hit a residential home hosting a wedding celebration in southern Iran on Tuesday, killing four people including a child and wounding more than 50 others, the Iranian Red Crescent said. Shrapnel from the attack struck the home in the city of Kuhestak, in Sirik county of Hormozgan province, where a ... Read more

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Oil prices jump more than 2% after US and Iran trade strikes

Oil prices rose more than 2% Monday after the United States attacked an Iranian island in the Strait of Hormuz and drew retaliation from Tehran, as the six-month-old conflict between the two countries showed no signs of easing. Brent crude futures climbed $2.21, or 2.51%, to $90.31 a barrel as of 0436 GMT. U.S. West ... Read more

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Pakistan returns to spot LNG market with fresh tender as power generation takes a hit

KARACHI: State-run Pakistan LNG Limited (PLL) has issued a fresh tender to procure one spot cargo of liquefied natural gas for delivery between September 4 and 8, as global supply disruptions stemming from the Middle East war continue to strain the country’s gas-fired power generation. PLL invited bids from international suppliers for a single cargo ... Read more

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