Web Desk/AFP

Middle East

Iran says Strait of Hormuz fully open but bans military vessels; Trump thanks Tehran as oil prices fall; US President rejects NATO help; Lebanon reports nearly 2,300 killed in Israeli strikes since March 2

All you need to know about Day 49 of US-Israeli war on Iran

HONG KONG: Oil prices plunged Wednesday while stocks rallied after the United States and Iran agreed to a two-week ceasefire that will see Tehran temporarily reopen the vital Strait of Hormuz. With Donald Trump&#39;s deadline approaching for the Islamic republic to reopen the waterway or face obliteration, he announced a halt to attacks for two weeks and said he had received a &quot;workable&quot; 10-point proposal. Iran later said it had agreed to safe passage in the Strait, through which a fifth of global oil and gas passes. The news pushed down crude prices, with West Texas Intermediate losing almost 20% and Brent as much as 16% as investors heaved a huge sigh of relief after more than five weeks of war that has hammered supplies. The euphoria sent equities rocketing on hopes that the crisis that had shocked the global economy for more than a month would end. Seoul jumped more than 6% and Tokyo more than 5%, while Taipei added 4.2%, and Sydney and Hong Kong advanced more than 2%. Shanghai, Mumbai, Bangkok, Manila, Jakarta, Singapore and Wellington were also sharply higher. Trump had threatened on Tuesday that if Hormuz was not reopened, &quot;a whole civilization will die tonight, never to be brought back again.&quot; That came after he vowed to bomb bridges, power plants and other civilian infrastructure in Iran. Iran warned it would deprive the United States and its allies of oil and gas &quot;for years&quot; if Washington crossed Tehran&#39;s &quot;red lines.&quot; However, as the world counted down to the cutoff, the US president took to social media to say: &quot;Subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for a period of two weeks.&quot; He added that it &quot;will be a double sided CEASEFIRE!&quot; and that &quot;we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East&quot;. Relief for AsiaPrime Minister Shehbaz Sharif of Pakistan, who has played a key mediator role, said the ceasefire would start immediately. He said the United States &quot;along with their allies&quot; had agreed to a ceasefire everywhere, including Lebanon, implying that Israel had agreed to halt its invasion of its northern neighbor. However, Tel Aviv said it supported the suspension of the bombing of Iran, but maintained the ceasefire did not include Lebanon. Iran claimed victory, with the Iranian Supreme National Security Council saying: &quot;The enemy has suffered an undeniable, historic and crushing defeat in its cowardly, illegal and criminal war against the Iranian nation.&quot; The ceasefire also led to a sharp drop in the dollar, which had become the safe-haven while the war raged, with the yen, euro and pound all strengthening. Gold rallied after concerns about a sharp rise in inflation that will keep interest rates elevated, while bitcoin rose. &quot;Unsurprisingly, the initial market reaction has been a positive one, albeit perhaps not as sizeable as one might&#39;ve expected, largely owing to the grind higher in risk assets seen since the tail end of Tuesday&#39;s cash session,&quot; said Michael Brown at Pepperstone. &quot;Participants have been desperate for anything resembling good news for some weeks now, and even more desperate to see concrete steps being taken towards de-escalation. &quot;Now that we seem able to put a tick in both of those boxes, participants are unsurprisingly willing to significantly take up risk levels once more.&quot; Stephen Innes of SPI Asset Management added that the deal &quot;matters enormously for Asia&quot;, where several governments have been forced to introduce measures to combat rising energy costs. &quot;Lower oil prices remove the chokehold that has weighed on regional risk sentiment, especially in markets that feel imported energy shocks first and hardest,&quot; he said. &quot;With crude backing off, the pressure on inflation expectations and front-end yields eases at the margin, and that is enough to let capital rotate back toward risk, at least for now.&quot; Key figures at around 0400 GMT&nbsp;West Texas Intermediate: DOWN 15.4% at $95.59 a barrelBrent North Sea Crude: DOWN 13.3% at $94.71 a barrelTokyo - Nikkei 225: UP 5.1% at 56,177.81Hong Kong - Hang Seng Index: UP 2.8% at 25,821.88 (break)Shanghai - Composite: UP 1.9% at 3,964.72 (break)Euro/dollar: UP at $1.1670 from $1.1585 on TuesdayPound/dollar: UP at $1.3396 from $1.3274Dollar/yen: DOWN at 158.40 yen from 159.70 yenEuro/pound: DOWN at 87.12 pence from 87.28 penceNew York - Dow: DOWN 0.2% at 46,584.46 (close)London - FTSE 100: DOWN 0.8% at 10,348.79 (close)

Prices for liquefied petroleum gas (LPG) are displayed next to canisters at a store in Manila on April 7, 2026. (Photo by Jam STA ROSA / AFP)

Business

With Donald Trump's deadline approaching for the Islamic republic to reopen the waterway or face obliteration, he announced a halt to attacks for two weeks and said he had received a 'workable' 10-point proposal.

Crude prices plunge, stocks surge as US and Iran agree ceasefire

Web Desk

ISLAMABAD: Pakistan&#39;s renewable energy capacity shielded the country from an energy crisis despite regional oil supply disruptions, Prime Minister Shehbaz Sharif said Tuesday, as the government moves to accelerate a sweeping clean energy expansion and protect export routes to Gulf markets. According to an official statement released by the Prime Minister&rsquo;s Office, PM Sharif chaired a meeting on long-term power supply planning and the outlook for domestic exports amid current international pressures. He directed officials to formulate a comprehensive national action plan to expand renewable energy sources. He also ordered the Pakistan National Shipping Corporation to arrange vessels to boost export volumes through sea routes. Renewables currently account for 55% of Pakistan&#39;s total electricity generation, with fossil fuels making up the remaining 45%. The government is targeting a 90% renewable share within ten years, with biofuels comprising the remaining 10%. The prime minister ordered work on the Battery Energy Storage System project to be fast-tracked. &quot;Solar energy and other renewable energy sources are the future of the power sector,&quot; he said. On trade, PM Sharif said Pakistani exports to Gulf countries have continued despite recent global tensions. He credited diplomatic efforts for securing uninterrupted access to those markets. Demand for Pakistani agricultural commodities in the Gulf has risen steadily, officials reported during the briefing. The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, along with federal ministers Ahsan Iqbal, Dr Mosaddeq Masood Malik, Muhammad Aurangzeb and Attaullah Tarar, Minister of State for Finance Bilal Azhar Kayani and other senior officers.

Prime Minister Shehbaz Sharif chairs a meeting regarding long term energy planning and export strategy during current international situation, in Islamabad on 7 April 2026. (PMO)

Economy

Pakistan’s renewable energy now generates 55% of electricity, shielding it from regional oil disruptions. PM Shahbaz Sharif aims for 90% renewables in a decade while securing Gulf export routes.

Pakistan to expand renewable energy to shield economy, exports amid Middle East crisis

ISLAMABAD: Pakistan announced on Monday that it would close bazaars, markets, and shopping malls at 8 p.m. as part of austerity measures amid the escalating Israel-US war on Iran, which has impacted global supplies. According to a statement from the Prime Minister&#39;s Office (PMO), Prime Minister Shehbaz Sharif chaired a meeting to review petroleum products, energy conservation, and the implementation of austerity measures. As part of this initiative, the government announced the closure of markets and shopping malls in Punjab, Khyber Pakhtunkhwa, Balochistan, the Islamabad Capital Territory, Gilgit-Baltistan, and Azad Jammu &amp; Kashmir. The statement added that the decision has been made in consultation with provincial governments. &ldquo;In divisional headquarters of Khyber Pakhtunkhwa, bazaars, markets, and shopping malls will be allowed to remain open until 9 p.m.,&rdquo; it added. The government said that shops selling daily-use items, departmental stores, and all types of malls will also close at 8 p.m. Bakeries, restaurants, tandoors, and other food outlets will be closed by 10 p.m., the statement added. Marriage halls, marquees, and other commercial venues where weddings are held will remain closed after 10 p.m., as per the statement. Wedding events on private property and in homes will also be prohibited after 10 p.m., as per the statement. &nbsp;It added that medical stores and pharmacies will be exempt from these restrictions. The government announced that these decisions will take effect from April 7. It further added that in the cities of Gilgit and Muzaffarabad, intercity public transport will be free for one month, with all expenses borne by the federal government. Sufficient petrol suppliesIn an official statement, the Cabinet Committee to Monitor Petrol Prices met under the chairmanship of Finance Minister Senator Muhammad Aurangzeb to assess petroleum supply, stock positions, and market conditions. Officials told the meeting that overall supply remains stable. Diesel stocks cover about 25 days, petrol supplies are sufficient to meet current demand, and crude oil stocks stand at around 12 days, supported by incoming cargoes and scheduled imports, according to the Petroleum Division. Import arrangements for the coming weeks are on track through commercial purchases and government-to-government deals, while refineries are operating at optimal levels to maintain output, the division said. The committee noted that a reliable energy supply remains critical for agriculture, fertilizer production, transport, and industry, as well as for maintaining price stability. The committee called for vigilance to prevent hoarding, speculative activity, and disruptions in availability following recent price changes, the ministry stated. It stressed close monitoring of demand patterns, including local variations, and action against unauthorized storage and market irregularities within the regulatory framework. Members also reviewed the gas supply, including the stock positions of SNGPL and SSGC, and discussed the allocation between domestic consumers and the power sector, according to the Petroleum Division. They called for a data-driven approach to manage seasonal demand and increasing reliance on liquefied petroleum gas. The committee emphasized the use of a digital dashboard launched by the Oil and Gas Regulatory Authority (OGRA) to track real-time data on stocks, sales, and supply conditions from depots to retail outlets. The system is intended to improve visibility of inventory and demand fluctuations and enable timely identification of supply gaps, the ministry said. However, data reporting from retail outlets remains below expectations despite a nationwide network of more than 12,000 petrol pumps, according to the Finance Ministry. The committee called for full operationalization of the system. The finance minister directed stakeholders to ensure timely and accurate data sharing to support decision-making. OGRA was instructed to enforce compliance with reporting requirements,&nbsp;accelerate digitization across the supply chain, and coordinate with oil marketing companies. Pakistan State Oil will expand reporting coverage across its retail network, the ministry said. Joint teams from the Petroleum Division, OGRA, the Federal Investigation Agency, and Pakistan State Oil will be deployed to selected PSO petrol pumps in Islamabad to improve data entry, transparency, and operational compliance. The committee said such mechanisms should be institutionalized to strengthen oversight and accountability. Aurangzeb said maintaining market stability requires coordination, monitoring, and enforcement, and stressed the need to ensure uninterrupted fuel availability, improve transparency, and protect consumers. The meeting was attended by senior federal ministers and officials from relevant ministries, divisions, and regulatory authorities.

Steps include early market closures, reduced business hours, and offering free public transport to reduce vehicular traffic and fuel usage amid regional tensions.

Pakistan orders early market closures amid Middle Eastern crisis

TOKYO: Oil prices pared gains Monday after a spike following fresh threats in the war in the Middle East, while Tokyo and Seoul shares closed higher. Many markets in Asia and Europe were closed for holidays on Easter Monday, which coincides with China&#39;s Qingming Festival. Crude oil contracts had surged at the week&#39;s market opening after US President Donald Trump made an expletive-laced threat to destroy Iran&#39;s civilian infrastructure, demanding Tehran bow to his demands for a deal to reopen the Gulf to shipping. But they fluctuated during the day, and by late afternoon US benchmark West Texas Intermediate had lost 0.7% at $110.75 a barrel, while North Sea Brent was up 0.2% to $109.20. Analysts said a report by Axios that said the United States and Iran were discussing terms with regional mediators for a potential 45-day ceasefire had calmed sentiment among investors. &quot;Markets are beginning to flirt with the idea of a peace dividend,&quot; wrote Stephen Innes at SPI Asset Management. However, it is &quot;a tentative recalibration, a market shading probabilities rather than rewriting the script&quot;, Innes added. Bloomberg Markets Live strategist Mark Cranfield said the reaction to the report &quot;shows how keen investors are to see a de-escalation in the Iran war, which is dominating a risk aversion theme across markets&quot;. &quot;Should President Trump push back against ceasefire hopes when he speaks later on Monday, this positive mood will reverse,&quot; he added. Tokyo closed 0.6%&nbsp;higher and Seoul ended the day with gains of 1.4%. Among other Asian markets open on Monday, Singapore was up 0.4% but Jakarta was down 0.5%. &quot;Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!&quot; Trump wrote on his Truth Social platform Sunday, later telling Fox News there was a &quot;good chance&quot; Iran would agree to a deal. Hours later, Iran&#39;s central military command warned of &quot;much more devastating&quot; retaliation if its adversaries hit civilian targets. MUFG&#39;s Lloyd Chan said in a note that &quot;it remains to be seen whether this escalatory rhetoric ultimately proves to be another &#39;TACO&#39; moment&quot; a jokey acronym for &quot;Trump always chickens out&quot;. But &quot;the persistence of threats to critical Iranian infrastructure keeps escalation risks elevated&quot;, he said. The war, entering its sixth week since the US and Israel first attacked Iran on Feb. 28, has engulfed the Middle East in conflict and upended the global economy. Iran has virtually blocked the Strait of Hormuz, through which about 20% of the world&#39;s oil and gas transits, sending petroleum prices skyrocketing. Key figures at around 0730 GMT Tokyo - Nikkei 225: UP 0.6% at 53,413.68 (close) Hong Kong - Hang Seng Index: CLOSED for holiday Shanghai - Composite: CLOSED for holiday Euro/dollar: UP at $1.1544 from $1.1535 on Friday Pound/dollar: UP at $1.3229 from $1.3224 Dollar/yen: FLAT at 159.63 Euro/pound: UP at 87.27 pence from 87.22 pence West Texas Intermediate: DOWN 0.7% at $110.75 per barrel Brent North Sea Crude: UP 0.2% at $109.20 per barrel New York - Dow: DOWN 0.1% at 46,504.67 (close) London - FTSE 100: CLOSED for holiday

A container ship is seen at berth at the container terminal of the port in Qingdao, in China’s eastern Shandong province on April 2, 2026.

Oil prices eased after an early surge on Middle East tensions as tentative Iran ceasefire talks lifted investor sentiment, while Asian markets mostly rose in holiday-thinned trading.

Oil pares gains as shares rise in Tokyo, Seoul

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif chaired a government meeting Sunday to review the implementation of petroleum subsidies amid rising oil costs caused by the ongoing&nbsp;<a href="https://www.pakistantv.com/article/usisrael-war-on-iran-day-37" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Middle East war</a>. According to a statement released by the Prime Minister&rsquo;s Office, the meeting covered the status of fuel subsidies, national fuel reserves, and consumption levels. <div class="fr-embed"><blockquote class="twitter-tweet">لاہور: 5 اپریل 2026. وزیرِ اعظم محمد شہباز شریف نے خطے میں حالیہ کشیدگی کے دوران پیٹرولیم مصنوعات پر حکومت کی جانب سے سبسڈی کے نفاذ پر پیش رفت کے جائزہ اجلاسکی صدارت کی. اجلاس کو سبسڈی کی فراہمی پر پیش رفت سے آگاہ کرنے کے ساتھ ساتھ ملک میں ایندھن کے ذخائر اور کھپت پر بھی بریفنگ&hellip; <a href="https://t.co/dUJBBSE7ZW" style="color: rgb(0, 115, 230);">pic.twitter.com/dUJBBSE7ZW</a>&mdash; Prime Minister&#39;s Office (@PakPMO) <a href="https://twitter.com/PakPMO/status/2040722780585644161?ref_src=twsrc%5Etfw" style="color: rgb(0, 115, 230);">April 5, 2026</a></blockquote></div> Under the program, passenger buses will receive a monthly subsidy of Rs 100,000 ($359), while minibuses and wagons will receive Rs 40,000 ($143). Trucks will get Rs 70,000 ($251) per month, large freight vehicles Rs 80,000 ($287), and delivery vans Rs 35,000 ($125.7), to prevent an increase in food prices. The prime minister directed the immediate release of subsidy funds, which began Saturday, a holiday, instead of the scheduled Monday start. The PMO reported that funds will be distributed through digital wallets to &ldquo;ensure transparency.&rdquo; All provincial governments submitted details of trucks, buses, and freight vehicles to the federal government for subsidy distribution. PM Sharif stated that the Balochistan provincial government has already deposited its share of the national relief package. He&nbsp;encouraged the other provinces to complete their contributions at the earliest opportunity. A public relief package totaling Rs129 billion ($463.4 million ) was disbursed over the last three weeks. Meanwhile, the petrol levy was reduced by Rs80 per liter, and Pakistan Railways is providing a Rs6 billion ($21.6 million) subsidy to keep passenger and freight train fares unchanged. The scheduled 25% quarterly increase in toll tax was also withdrawn. The meeting also received a report from the Intelligence Bureau on government austerity measures and confirmed that fuel reserves are sufficient to meet the country&rsquo;s needs. The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Dr. Mosaddiq Malik, Attaullah Tarar, and other senior officials.

Pakistan Prime Minister Shehbaz Sharif chaired a meeting to review the government’s progress in implementing petroleum subsidies. (PMO)

Prime Minister Shehbaz Sharif has directed immediate subsidies on fuel, buses, trucks, and freight vehicles to stabilize prices, reduce petrol levies, and ease public burden amid regional tensions.

Pakistan govt announces immediate subsidies to reduce public price burden

Americas

Iran fires missiles at Israel as strikes intensify across the region, Trump issues fresh threats and ultimatums, and tensions rise after attacks on energy sites, military targets and infrastructure, deepening instability across the Middle East.

Day 36: All you need to know about US-Israel war on Iran

ISLAMABAD: United States (US) President Donald Trump is prepared to end US&nbsp;<a href="https://www.pakistantv.com/article/us-israel-war-on-iran-day-32" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">military operations</a>&nbsp;against Iran even if the Strait of Hormuz remains closed, administration officials told The Wall Street Journal on Tuesday. According to the American publication, Trump&#39;s team determined that forcing the waterway open would push the conflict past his four-to-six week target. The focus stays on crippling Iran&#39;s navy and missile stocks. The strait&#39;s fate gets handed to diplomacy &ndash; or to US allies. Should that fail, Washington will press European and Gulf partners to lead any reopening effort, officials told the WSJ. The world has been reeling from rising oil prices since the start of the&nbsp;<a href="https://www.pakistantv.com/article/netanyahu-says-iran-war-goals-achieved-beyond-halfway-point" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">conflict</a>. Brent crude has surged from roughly $67 a barrel before the conflict to above $115 by March 31, a rise of approximately 72%, according to market data. Bloomberg attributed the increase to a &quot;near-halt&quot; of shipping through the waterway, which carries one-fifth of global oil supply. Yet Trump administration officials have sent conflicting signals on the Middle East War. Secretary of State Marco Rubio told Al Jazeera that military objectives would be met &quot;in weeks, not months,&quot; while separately vowing the strait would reopen &quot;one way or another.&quot; Meanwhile, US Defense Secretary Pete Hegseth declared the &quot;Department of War will continue negotiating with bombs,&quot; then insisted the conflict is not a &quot;regime change war,&quot; as reported by the AFP. Diplomatic efforts are running parallel to the military campaign. On March 25, the US presented a 15-point peace framework to Iran through&nbsp;<a href="https://www.pakistantv.com/article/pm-sharif-briefs-european-council-president-on-pakistans-mediation-efforts" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Pakistani mediator</a>s, according to AFP. The plan calls for a ceasefire, nuclear dismantlement, and a full reopening of the strait. Pakistan&#39;s Foreign Minister Ishaq Dar confirmed on March 26 that &quot;indirect talks are taking place,&quot; with Islamabad relaying messages between Washington and Tehran. The war entered its 32nd day on Tuesday. A handful of non-hostile vessels, primarily Chinese, have begun transiting the waterway, according to AFP.

US President Donald Trump steps off Air Force One upon arrival at Joint Base Andrews, Maryland on March 29, 2026. (AFP)

Trump's team reportedly determined that forcing the waterway open would push the conflict past his four-to-six week target. The focus stays on crippling Iran's navy and missile stocks, with the strait's fate gets handed to diplomacy – or to US allies.

Trump ready to end Middle East War with Hormuz Strait still closed: Reports

ISLAMABAD: Pakistan&rsquo;s Prime Minister Shehbaz Sharif and European Council President Antonio Costa spoke by phone Monday, with PM Sharif outlining the latest steps Islamabad has taken to reduce tensions in the Middle East, and the two leaders exchanging views on what the widening conflict means for the global economy. According to an official statement released by the Prime Minister&rsquo;s Office, both leaders said they were deeply worried about the fighting involving Iran and the Gulf states and called for the situation to be settled through &quot;dialogue and diplomacy.&quot; <div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: absolute; visibility: hidden; width: 0px; height: 0px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2038584095127879726&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=644a46dd8d0d79b531cbdf97a9fc7c9faa515e78&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px">&nbsp;&nbsp;</iframe></div><blockquote class="twitter-tweet">Islamabad: 30 March 2026. Telephone call between the Prime Minister and the President of the EU Council Prime Minister Muhammad Shehbaz Sharif received a telephone call from H.E. Antonio Costa, President of the European Council, this afternoon. During their warm and cordial&hellip; <a href="https://t.co/V1OV32WFoq" style="color: rgb(0, 115, 230);">pic.twitter.com/V1OV32WFoq</a>&mdash; Prime Minister&#39;s Office (@PakPMO) <a href="https://twitter.com/PakPMO/status/2038584095127879726?ref_src=twsrc%5Etfw" style="color: rgb(0, 115, 230);">March 30, 2026</a></blockquote></div> Costa backed Pakistan&#39;s peacemaking role, saying the European Council stood behind every diplomatic channel working to bring order back to the region. PM Sharif told Costa that Islamabad places considerable weight on its ties with the European Union. He also brought up a Brussels trip he was forced to postpone last month. The European Council President said he expected to host the prime minister in the Belgian capital &quot;on mutually convenient dates.&quot; PM Sharif talked about the GSP+, the EU&#39;s preferential trade arrangement for vulnerable developing economies. The prime minister said he planned to open the first Pakistan-EU Business Forum in Islamabad on April 28-29.

The President of the European Council António Costa's opening remarks to the European Parliament on 25 March 2026 in Brussels. (EU Council Newsroom)

Foreign Affairs

The European Council endorsed Pakistan's push for dialog to de-escalate the Middle East crisis, with Brussels signaling support for all efforts to pull the region back from the brink.

PM Sharif briefs European Council president on Pakistan's US-Iran mediation efforts

White House Press Secretary Karoline Leavitt takes questions during a news briefing in the James S. Brady Press Briefing Room of the White House on March 25, 2026 in Washington, DC.

Iranian Foreign Minister Araghchi says Iran did not plan to negotiate with US, adds Tehran intends to keep fighting, after US President Trump said Washington had proposed a peace plan.



Articles tagged with "world oil prices"