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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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Reduced prices at supermarkets: A hole in the water

The National Price Reduction Initiative came into effect on Monday, August 31, with more than 1,660 basic consumer goods in supermarkets to be offered at reduced prices. The initiative is supposed to cover food, everyday household items, school supplies, private-label products and meat. The initiative has been launched by the government in cooperation with main […]

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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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Jamaat-e-Islami threatens sit-ins in Rawalpindi, Islamabad if protest permit denied

ISLAMABAD: The leaders of Pakistan’s Jamaat-e-Islami (JI) on Sunday warned of staging sit-ins in Rawalpindi and Islamabad if authorities refuse to grant permission for a public gathering in the garrison city, as the party escalates pressure on the government over rising fuel prices and inflation. Hafiz Naeemur Rehman, the emir of Jamaat-e-Islami, told a news ... Read more

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Corn, wheat prices surge to multi-year highs on divergent supply threats

CHICAGO: Corn and wheat futures have rallied to their highest prices in more than three years, though the factors driving the gains for each crop remain distinctly different. Wheat futures settled Friday at $7.84 per bushel, up 3.1% on the day, after hitting an intraday peak of $7.9025, the highest level since Feb. 14, 2023. ... Read more

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