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Sui Northern Gas Pipelines Ltd has declared force majeure on RLNG supply to Punjab plants citing Strait of Hormuz tensions, with cargoes cut until Aug 3. Meanwhile, the Oil and Gas Regulatory Authority has notified a 15% increase in RLNG prices for June, reflecting higher spot market costs.
The US military conducted a second round of strikes on Iran, following President Trump's declaration that the interim agreement to end the war is over. Iran retaliated against US sites in Bahrain and Kuwait, prompting condemnation from those countries, while the US Treasury revoked a sanctions waiver.
The United States carried out another round of strikes on Iran on Wednesday, hours after President Donald Trump said Iranian attacks on ships in the Strait of Hormuz ended the ceasefire. Iranian state media reported explosions in several locations, and Trump threatened further action, including seizing Kharg Island and hitting civilian infrastructure.
US President Donald Trump has warned that Washington will respond to any Iranian attack with 20 strikes, saying the US hit Iran 'very hard' after an earlier incident. The warning follows US Central Command's additional strikes on Iranian targets, with Trump also stating the ceasefire with Iran is no longer in effect.
NATO leaders gathered in Ankara for a summit marked by billions in procurement deals and pledges of unity, while tensions with US President Donald Trump over defence spending and the Iran conflict loom large. Secretary General Mark Rutte defended the alliance's strength and Trump's commitment, despite criticism and questions about unity.
The United States has carried out new waves of strikes against Iran, targeting missile and coastal defense sites in the Strait of Hormuz. President Donald Trump declared the ceasefire over and vowed to hit Iran hard, while Iran has retaliated with attacks on Gulf states and claimed strikes on US-linked facilities. Oil prices surged amid fears of renewed conflict.
The United States has launched additional strikes against Iran following Iranian attacks on shipping, with President Trump saying the interim agreement to end the war is over. French President Macron and other NATO leaders weigh in on the escalating situation.
US stock markets fell as President Trump announced further strikes on Iran and the Federal Reserve signaled possible interest rate hikes. Oil prices surged past $80 a barrel, while travel stocks dropped and energy stocks gained.
The US military has launched additional strikes against Iran following Iranian attacks on vessels in the Strait of Hormuz, with explosions reported across southern Iran. President Donald Trump declared the ceasefire 'over', while Iran's military reportedly prepares a 'massive' response, and US Central Command denies involvement in some of the latest blasts.
The United States has carried out a new round of airstrikes on Iranian targets, responding to a drone attack on a commercial vessel in the Strait of Hormuz. The strikes, which targeted missile and drone storage sites and coastal radar positions, mark an escalation despite a fragile ceasefire agreement. President Trump warned of further action, while Iran has yet to comment officially.
US President Donald Trump has renewed threats against Iran's Kharg Island, the country's main oil export hub, after declaring an interim ceasefire 'over' and warning of more strikes. The island handles about 90 percent of Iran's oil exports, making it strategically significant for global energy markets.
Pakistan has called on the US and Iran to exercise restraint after a series of overnight strikes raised fears of a renewed Middle East conflict. The appeal came from both Prime Minister Shehbaz Sharif and the Foreign Office, which also urged all sides to honor the Islamabad Memorandum of Understanding.
US President Donald Trump said the ceasefire with Iran is over and threatened fresh strikes, as fighting flared around the Strait of Hormuz. US Central Command struck over 80 targets, and Iranian state media reported explosions, raising oil prices and straining the interim deal.
U.S. President Donald Trump declared an interim peace deal with Iran "over" during a NATO summit in Ankara, warning that Washington might reimpose a naval blockade. His remarks followed U.S. military strikes on over 80 Iranian targets after attacks on commercial vessels in the Strait of Hormuz, raising concerns about renewed full-scale conflict.
President Donald Trump declared the ceasefire with Iran effectively over, calling Iranian leaders 'scum' and 'vicious, violent people' as he arrived at a NATO summit in Ankara. The US launched strikes on over 80 Iranian targets after attacks on commercial vessels, while Trump also criticized NATO allies and reiterated his demand for Greenland.
The IMF has downgraded its global growth forecast to 3% for 2026, citing the Iran war, higher energy prices, and geopolitical uncertainty. AI investment is partially offsetting the damage, while inflation is expected to rise. The UK's outlook was upgraded to 1% growth, making it the third-fastest G7 economy.
NATO leaders at the Ankara summit affirmed Russia as a long-term threat, committed to collective defense, and pledged substantial aid to Ukraine. The final declaration was noted as the briefest in decades, while ICAN criticized NATO for escalating nuclear tensions.
As the US and Iran exchange strikes for a second night, Gulf countries hosting US military installations find themselves in a precarious position. From Bahrain and Kuwait to Qatar and Saudi Arabia, the renewed fighting threatens to disrupt the region, with Iran already targeting US sites in two Gulf states.
Iran's strikes on commercial vessels in the Strait of Hormuz have unraveled the fragile US-Iran ceasefire, prompting US military retaliation and new missile attacks. The escalation has drawn international calls for de-escalation while the US declares the memorandum of understanding 'over'.
Pakistan's KSE-100 index fell sharply on Wednesday, dropping over 4,600 points, after US President Donald Trump said the ceasefire with Iran was 'over'. The decline was attributed to heightened geopolitical uncertainty and concerns over oil supply disruptions.