By Jon Herskovitz Iran has given the US a new proposal to reopen the Strait of Hormuz and end the war that includes putting off nuclear negotiations, Axios reported, citing a US official and two sources with knowledge of the matter. The plan, conveyed through mediators in Pakistan, calls for extending…
Oil prices inched higher on Thursday after suffering their steepest single-day fall since April 2020, as uncertainty around the Strait of Hormuz and renewed tensions in the Middle East kept markets on edge. Brent crude moved back towards $97 a barrel, rebounding from a 13% on Wednesday, while West Texas Intermediate also traded close to…
Amidst the ongoing maritime blockade of the Strait of Hormuz to hostile vessels, a senior Iranian legislator has suggested that Tehran could further escalate pressure on its adversaries by targeting the Bab el-Mandeb Strait, another of the world’s most critical maritime chokepoints. The Speaker of the Iranian Parliament, Mohammad Bagher Ghalibaf, hinted at…
Pakistan will repay a $2 billion loan to the United Arab Emirates (UAE) by the end of this month, a media report said on Friday.“The UAE recently asked for the immediate return of the funds in the wake of the recent situation in the Middle East following the US-Israel war on Iran,” sources told Geo…
Precious metals are likely to remain in a corrective phase in the coming week, with investors expected to closely track developments in the Middle East and a packed calendar of global economic data for fresh cues.Analysts cited by news agency PTI said that speeches by US Federal Reserve Chair Jerome Powell on Monday, along with…