The Strait of Hormuz never had to be formally blockaded. Risk aversion did the job anyway. In the 48 hours since US and Israeli attacks escalated against Iran, global oil markets have lurched higher by as much as 13%, Brent crude has traded near $78-$79 a barrel, and tanker traffic at the world’s most critical energy chokepoint has simply frozen in place.
Energy
Pakistan forms daily oil oversight committee after Hormuz disruption spurs price spike
By Staff Reporter ISLAMABAD: Pakistan will continue passing the impact of higher global oil prices directly to consumers under its existing fortnightly adjustment mechanism, the
Pakistan raises petrol by Rs8, diesel by Rs5.16 a litre
ISLAMABAD: Pakistan raised retail fuel prices Saturday, lifting petrol by Rs8 a liter and high-speed diesel by Rs5.16 for the coming fortnight.
Fuel prices poised for Rs4.50-Rs7 jump as global oil edges higher
KARACHI: The government is preparing to lift prices of all petroleum products by Rs4.50 to Rs7 a liter starting Saturday for the fortnight through March 15, the first broad increase in weeks, after benchmark crude posted modest gains amid regional tensions.
Ogra seeks input on quick payback for $432 million Azerbaijan oil pipeline deal
ISLAMABAD: Pakistan’s oil and gas regulator is soliciting expert and public feedback on a proposed four-year payback period for a $432 million government-to-government investment in a pipeline project with Azerbaijan, even as two key federal ministries have flagged concerns over the dollar-denominated returns and potential cost implications.
Pakistan power output hits record as industrial package spurs demand
KARACHI: Pakistan’s electricity generation climbed to an all-time monthly high in January as lower tariffs and a government subsidy program lured more industrial users onto the national grid, offsetting higher costs for captive power plants.
Sharif, Rubio discuss minerals, counter-terrorism at US peace forum
ISLAMABAD: Prime Minister Shehbaz Sharif met US Secretary of State Marco Rubio on the sidelines of a new international peace forum in Washington, where the two discussed deepening cooperation on minerals, energy and counter-terrorism as Islamabad seeks more American investment to shore up its economy.
Pakistan pledges no power, gas outages during key Ramadan hours
ISLAMABAD: Pakistan’s power and petroleum ministers pledged on Wednesday there would be no electricity or gas outages during the pre-dawn Sehr meal and evening Iftar breaking of the fast throughout the Muslim holy month of Ramadan, as the government seeks to ease hardships for millions observing the religious period.
Pakistan’s factory output rises 4.8 percent in first half on auto, oil surge
ISLAMABAD: Pakistan’s large-scale manufacturing sector expanded 4.82% in the first half of fiscal 2026, buoyed by surging automobile production and robust gains in petroleum refining, though a slowdown in textiles and declines in some key industries tempered the overall advance.
Pakistan commits to peaceful nuclear use at Vienna talks with IAEA chief
ISLAMABAD: Prime Minister Shehbaz Sharif reaffirmed his country’s backing for the International Atomic Energy Agency’s (IAEA) efforts to promote the responsible use of nuclear technology during a meeting with the agency’s director general in Vienna on Tuesday.