Oil prices fell on Thursday, extending the losses seen in the previous session. The decline came after reports that Saudi Arabia was arranging additional crude shipments through Oman, easing some fears about a shortage of oil. However, oil prices remained above $100 a barrel because traders are still worried that the Middle East conflict could … Read more
Oil prices moved lower on Wednesday even as Middle East supply risks remained high. Brent crude futures fell 1.1% to $107.55 a barrel. West Texas Intermediate (WTI) crude fell 1.6% to $104.11 a barrel. Despite Wednesday’s fall, both oil benchmarks remained close to four-month highs. Oil prices fall as Fed rate hike expectations and Middle … Read more
Shehbaz ministers warn of energy crisis as Pakistan fuel prices surge Pakistan is facing a widening energy crunch as disruptions around key Gulf shipping routes push up global oil prices, fuel costs surge and the government weighs measures to curb petroleum consumption.Pakistan’s Prime Minister Shehbaz Sharif’s government is facing pressure on multiple fronts, with ministers … Read more
The yield on the US 10-year Treasury note climbed to 5.02% on Tuesday, rising as much as 4 basis points. This is the highest level since 2007, meaning the yield has reached a level not seen in almost two decades. US 10-year Treasury yield rises above 5% amid oil and inflation fears (AFP) The move … Read more
Pakistan may bring back austerity measures to reduce fuel consumption as renewed fighting in West Asia drives up global oil prices, as news agency PTI cited Pak information minister Ataullah Tarar Monday.Pakistan PM Shehbaz Sharif has directed officials to examine which of the measures introduced earlier this year can be brought back, Tarar said at … Read more
US diesel prices soar past $6 a gallon US farmers are facing a bigger fuel bill as diesel prices hit record highs just as the corn and soybean harvest gets underway, pushing up the cost of running combines, tractors and trucks. The national average price of diesel reached $5.85 a gallon on September 4, the … Read more
Brünig Mega Safe, a company owned by Swiss entrepreneur Thomas Gasser, is drilling into the Alpine rocks to build 20 mega bunkers more than 100 metres underground, designed to safeguard the wealth of the super-rich. The project, being executed beneath the mountains of the Brunig Pass, near the village of Lungern, is led by the … Read more
Americans could pay more for toilet paper and other household paper products as the escalating US-Canada trade war puts fresh pressure on an industry that depends heavily on cross-border supplies of raw materials. US-Canada trade war could drive up the cost of toilet paper and other everyday household paper products. (Getty Images via AFP) The … Read more
Gold and silver prices are ending August with a sharp rally. Gold prices have risen about 15% this month, while silver prices have jumped around 19%. The rally has added huge value to the precious metals market. Together, gold and silver have gained nearly $5 trillion in market value in August, based on an analysis … Read more
Oil prices fell on Monday as investors waited for the US to announce new measures aimed at putting more economic pressure on Iran. Brent crude, the global oil benchmark, fell 1.8% to about $93 a barrel. West Texas Intermediate (WTI), the US oil benchmark, dropped 2.3% to around $85 a barrel. Oil prices fall ahead … Read more