West Texas Intermediate crude
Coverage of West Texas Intermediate crude in the Nexus archive.
- PSX continues in the red, loses more than 3,000 points in early trade
The Pakistan Stock Exchange's KSE-100 index fell over 3,000 points in early trade due to rising global oil prices amid heightened tensions between the US and Iran in the Strait of Hormuz. The decline followed a drop of 2,314 points on Monday, with the index closing at 179,927 points, driven by investor nervousness and profit-taking after a recent market rally.
- Oil jumps 4pc as new strikes by US, Iran threaten Hormuz shipments
Oil prices surged over 4% as renewed military strikes by the US and Iran threatened shipments through the Strait of Hormuz. The conflict cast doubt on an interim US-Iranian agreement to reopen the strait, with six vessels transiting the strait on Sunday, the lowest in five weeks.
- Oil prices fall as US leaders strike positive note on Iran talks
Oil prices fell by more than 1 percent as US leaders provided positive comments on talks between Washington and Tehran. Brent futures and West Texas Intermediate crude both closed at their lowest levels since March.
- Oil prices dip amid reports of tentative US-Iran deal
Oil prices fell as the US and Iran reportedly reached a tentative deal to extend their ceasefire and reopen the Strait of Hormuz. Brent crude dropped to $94 per barrel from $96, while West Texas Intermediate crude traded at around $89 per barrel.