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Global oil markets surged on Monday as escalating tensions in the Middle East fueled fears of a wider conflict. Prices spiked sharply after Iran warned it was fully prepared for a potential US ground invasion. Brent crude, the global benchmark, climbed more than 3%, crossing $116 per barrel—its highest level since March 19, when it briefly touched $119 during earlier phases of the crisis. Tehran’s rhetoric intensified geopolitical concerns, with a senior Iranian parliamentary official warning that the country was ready to confront US forces and retaliate against their regional allies. The situation further deteriorated over the weekend as Iranian-backed Houthi forces launched missiles at Israel for the first time in the ongoing war. Simultaneously, Israel expanded its military operations into southern Lebanon, opening another front in the conflict. Strait of Hormuz disruption deepens crisis The effective closure of the Strait of Hormuz has severely disrupted global energy supplies. As a critical chokepoint handling nearly one-fifth of the world’s oil and liquefied natural gas, any disruption in the strait has far-reaching consequences. Analysts now warn the world could be heading toward one of the most severe energy crises in decades. Global markets react sharply Asian stock markets reacted negatively to the escalating crisis, with Japan’s Nikkei 225 and South Korea’s KOSPI both falling more than 4% in early trading. Crude prices have surged nearly 60% since the conflict began on February 28, triggering a wave of rising fuel costs worldwide. Several countries have already begun implementing emergency energy-saving measures to cope with the situation. US pressure and diplomatic signals US President Donald Trump has warned Iran that its energy infrastructure could be “obliterated” if it fails to ease restrictions over the Strait of Hormuz by April 6. Although he recently extended the deadline by 10 days, he also hinted at a possible diplomatic breakthrough. “I do see a deal in Iran… Could be soon,” he said while speaking to reporters aboard Air Force One. However, Iran has rejected the US proposal, instead demanding war reparations and formal recognition of its control over the strait. Greg Newman, CEO of Onyx Capital Group, cautioned that the full impact of the disruption has yet to materialize. He noted that Europe is only beginning to feel supply shortages due to delays in oil shipment cycles. “Brent is starting to reflect reality, and we think it’s a steady rise toward $120 and beyond,” he said, adding that the scale of disruption remains unprecedented and not fully priced into global markets. While Iran has permitted limited passage for non-US and non-Israeli vessels, overall maritime traffic remains significantly reduced. Pakistan’s Foreign Minister Ishaq Dar confirmed that 20 Pakistani-flagged ships were allowed to transit the strait, while Malaysian Prime Minister Anwar Ibrahim reported similar clearance for Malaysian vessels. Despite these allowances, daily ship traffic remains well below pre-war levels of approximately 120 vessels, underscoring the ongoing strain on global energy supply chains.

Oil Prices Surge Past $116 as Middle East Tensions Escalate

DUBAI: Global oil markets surged on Monday as escalating tensions in the Middle East fueled fears of a wider conflict. Prices spiked sharply after Iran warned it was fully prepared for a potential US ground invasion. Brent crude, the global benchmark, climbed more than 3%, crossing $116 per barrel—its highest level since March 19, when […]

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A dramatic scene of a wooden chair engulfed in flames at night, showcasing a vivid display of fire in a dark outdoor setting.

Fresh strikes hit Iran, trigger power outages in Tehran and Alborz

TEHRAN: Fresh strikes attributed to the United States and Israel have caused significant disruptions to Iran’s power infrastructure, leading to outages in parts of Tehran and the neighboring Alborz province, according to Iranian officials and state media. Iranian media reported that several areas in Tehran experienced electricity cuts after attacks targeted power plants in the

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Terrorist Attacks Foiled in Quetta, Five Civilians Injured

Security forces foiled Fitna-ul-Hindustan attacks in Balochistan

QUETTA: Security forces in Balochistan successfully thwarted a series of coordinated Fitna-ul-Hindustan terrorist attacks carried out across multiple locations in the province, according to official sources.   The attacks targeted several areas, including Nosar in Quetta, Mianghundi, the Western Bypass, Isplinji in Mastung, Lattar in Kharan, as well as Turbat and Panjgur. Authorities stated that

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Girl beats professor after his proposal for marriage

Girl beats professor after his proposal for marriage

BENGLORU: In a medical college in the Indian city of Bengaluru, a professor proposed marriage to a female student inside the classroom. In response, the student, along with other classmates, thrashed the professor. According to Indian media reports, during the class, the professor expressed his feelings to the student. The woman immediately objected, leading to

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PM reviews fuel conservation measures amid regional tensions, urges public cooperation

PM reviews fuel conservation measures amid regional tensions, urges public cooperation

ISLAMABAD: Prime Minister Shehbaz Sharif chaired a high-level meeting to review the implementation of fuel conservation and austerity measures in light of the evolving regional situation. The government appealed to citizens to actively support the national fuel-saving campaign by avoiding unnecessary travel and adopting teleconferencing practices in offices and workplaces wherever possible. He noted that

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How much prize money did the winner of the World Equestrian Competition receive? You will be surprised to know

How much prize money did the winner of the World Equestrian Competition receive? You will be surprised to know

DUBAI: The American horse named “Magnitude” has won the prestigious Dubai World Cup, one of the most prominent international horse racing events, held in Dubai. The competition brought together some of the finest thoroughbred horses and elite owners from around the world, indicating another successful edition of the globally recognized event. The race featured high-quality

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Pakistan ports see surge in activity amid Strait of Hormuz disruptions

Pakistan ports see surge in activity amid Strait of Hormuz disruptions

ISLAMABAD: Port operations across Pakistan have witnessed a notable increase following Iran’s retaliatory closure of the Strait of Hormuz, a move that came in response to recent US-Israel attacks. In this regard, the port recorded a significant rise in vessel traffic during the month of March. A total of 17 ships handled approximately 450,000 tonnes

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