Category: English

The US-Israeli war on Iran has altered bunker buying patterns for shippers globally as they turned to more spot and shorter-term ​purchases to cope with volatile prices while exploring more alternative locations for supply security, industry executives said. More than ‌seven months since the start of the conflict with Iran, prices of marine fuels remained well over 70% versus pre-war levels, according to data from bunker traders. Rerouting and diversions of vessels due to blockades at key waterways in the Middle East have also driven shippers to diversify refuelling locations,…

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Oil prices edged down on Friday morning as investors weighed Middle East risks and possible US steps to ease restrictions ​on the world’s “shadow fleet” of tankers. Brent crude futures fell 41 cents, or ‌0.39%, to $105.51 a barrel, while US West Texas Intermediate crude futures CLc1 were down 54 cents, or 0.55%, to $97.43. WTI settled up more than 3% on Thursday after a ​large US crude stock draw helped support prices, while Brent crude was little ​changed. The International Energy Agency agreed on Thursday to release over 20…

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The Federal Board of Revenue (FBR) on Thursday further extended the deadline for filing income tax returns for Tax Year 2026 to October 31, 2026, providing taxpayers additional two weeks to submit their returns. The FBR had previously extended the deadline from September 30 to October 15. “This extension is being granted in view of the requests received from various trade bodies and tax bar associations,” the FBR notification read. The latest extension gives individuals, businesses and companies additional time to fulfill their tax obligations and file their returns. Businesses…

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The government on Thursday reduced the price of petrol by Rs3.63 to Rs390.23 per litre, while increasing the price of high-speed diesel (HSD) by 31 paisa to Rs396.96 per litre, effective Friday, October 16, 2026. According to a press release issued by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products under the federal government’s petroleum pricing mechanism. The Petroleum Division said the revision took into account global developments, including movements in Platts rates, premiums and incidentals. On Wednesday, the government had…

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Saudi Arabia on Thursday accused Iran of encouraging Yemen’s Houthis in the dramatic escalation of their fight with the kingdom, adding that the Islamic Republic continued to arm and train the group. In a virtual briefing with reporters including AFP journalists, Saudi Arabia’s deputy minister for public diplomacy at the foreign ministry said Riyadh was still in touch with Iran, but that Tehran did not appear ready to make concessions. Saudi Arabia, the world’s top crude oil exporter, has come under sustained attack by the Houthis in recent days, shifting…

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The Houthis carried out a missile attack on the Yemeni government’s presidential palace in the interim capital of Aden on Thursday, with government military sources reporting four killed. Residents of the southern city reported hearing explosions on Thursday, while a journalist saw smoke rising from the site, which also serves as the headquarters of the internationally recognised government. Three local police sources said on condition of anonymity that “Houthi missiles targeted the Al-Maashiq presidential palace”. Government military sources later said four people were killed and 10 others wounded in the…

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The Houthis carried out a missile attack on the Yemeni government’s presidential palace in the interim capital of Aden on Thursday, with government military sources reporting four killed. Residents of the southern city reported hearing explosions on Thursday, while a journalist saw smoke rising from the site, which also serves as the headquarters of the internationally recognised government. Three local police sources said on condition of anonymity that “Houthi missiles targeted the Al-Maashiq presidential palace”. Government military sources later said four people were killed and 10 others wounded in the…

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Iran’s military on Thursday said an oil tanker had caught fire in the Gulf of Oman as it was attempting to pass through an area deemed prohibited, according to state television. “A few hours ago… surveillance teams of the army’s navy identified a non-compliant oil tanker that had caught fire,” state television cited a military statement as saying. “The offending tanker had switched off its tracking systems and was attempting to pass through the prohibited zone,” it added. It was not immediately clear what caused the fire or who was…

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The firing squad execution of a convicted military base shooter will not be livestreamed, US President Donald Trump announced on Thursday, canceling a contentious plan by Defence Secretary Pete Hegseth. The move to livestream Nidal Hasan’s execution was widely opposed at home and abroad, prompting outrage from both US Democratic and Republican politicians, the Catholic Church, rights groups and the United Nations. The cancellation is a blow to Hegseth, who is already under fire over the stalemated Iran war and its fallout, which are weighing on the Republican Party’s chances…

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A joint sitting of parliament on Thursday approved a resolution endorsing the presidential proclamation imposing an emergency in Khyber Pakhtunkhwa, with 214 lawmakers voting in favour and 57 opposing it. The session, chaired by National Assembly Speaker Sardar Ayaz Sadiq, approved the resolution by a majority vote as part of the constitutional process for parliamentary endorsement of the emergency and governor’s rule in the province. President Asif Ali Zardari had proclaimed an emergency in Khyber Pakhtunkhwa on October 11 under Article 232 of the Constitution. The National Assembly and Senate…

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