oil nears 110
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Oil nears $110 as US-Iran tensions rise

ByJustpaste.in

Global crude oil prices climbed sharply this week as rising tensions between the United States and Iran increased concerns over energy supplies. The escalation in geopolitical risks, combined with ongoing disruptions linked to the wars involving Iran and Ukraine, has pushed physical crude cargo prices to their highest levels in nearly two months.

Crude oil cargoes traded across the Middle East, Europe and Africa have risen significantly in value, with some shipments approaching $110 per barrel. The increase reflects growing uncertainty in global energy markets, where buyers are rushing to secure supplies amid fears of further disruptions.

Traders say concerns over supply have become the main driver of the latest price rally. Buyers are seeking immediate deliveries from alternative sources as uncertainty over future exports continues to grow. The stronger demand for prompt cargoes has added further pressure on international oil prices.

The global benchmark Dated Brent, which is used to price more than 60 percent of physical crude oil cargoes worldwide, climbed to $105.70 per barrel on Thursday, according to market data. The benchmark reached its highest level since late May and moved above the $100 per barrel mark for the first time since early June.

Market analysts believe geopolitical developments are having a direct impact on energy prices. Growing fears that conflicts could disrupt production or shipping routes have increased volatility in the oil market. Investors and traders are closely watching developments in the Middle East as they assess the risk of further supply shortages.

Oil broker Tamas Varga said supply concerns have once again become the dominant factor influencing the market. He noted that uncertainty over production and exports is encouraging buyers to secure crude oil before prices rise even further.

The market was also affected by developments in Kazakhstan. Authorities there announced that the country’s main export terminal for CPC Blend crude oil on the Black Sea had been forced to suspend operations following reported Ukrainian drone attacks. The disruption affected crude exports and reduced oil production.

According to a source familiar with the situation, Kazakhstan’s crude oil output has fallen by nearly half, dropping to around 460,000 barrels per day. The decline has added to global supply concerns at a time when markets are already under pressure from geopolitical tensions.

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    A protest held in central London in the name of solidarity with Kashmir has come under scrutiny following allegations over its funding and organisation, while reports of violence against a senior journalist have further fuelled controversy surrounding the demonstration. According to claims circulating among sections of the British Pakistani and Kashmiri community, around 50 coaches were arranged to transport participants from Bradford, Manchester and Birmingham to London. Some community members have alleged that the overall cost of the mobilisation exceeded £500,000 and have publicly questioned who financed the event, calling for greater transparency over its funding and logistics. Community sources further alleged that some families were offered a free day trip to London, including complimentary coach travel, to encourage participation in the demonstration. According to the sources, the offer attracted families who joined the trip. Allegations circulating on social media have also suggested that foreign elements including Indian agencies may have supported the protests through there frontmen’s Some members of the community further claimed that the number of British Pakistanis and Azad Kashmiris attending the protest was lower than expected, while participants from other communities appeared more visible. The demonstration was overshadowed by the alleged assault on senior Pakistani journalist Murtaza Ali Shah while he was covering the protest. Reports of the incident have drawn concern from journalists and media organisations, with calls for those responsible to be identified and held accountable. Witnesses also alleged that some protesters behaved aggressively towards members of the media, raising concerns about press freedom and the safety of journalists covering public demonstrations. Media observers said any intimidation or violence against journalists undermines democratic values and damages the credibility of a protest. The protest took place amid continuing demonstrations by sections of the Kashmiri diaspora over developments in Pakistan-administered Kashmir. While organisers described the event as a show of solidarity with Kashmir, the allegations over funding, crowd mobilisation and the reported violence have shifted attention to the conduct and organisation of the demonstration. The organisers have not publicly responded to the allegations regarding the event’s funding, logistics or the reported assault on the journalist. Community representatives have called for full transparency over the financing of the protest and urged all parties to ensure that future demonstrations remain peaceful and respectful of media freedom.Organisers have rejected claims of Indian funding by saying there members contributed for the arrangements.

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    Iqtidar Wali Khan launches strong criticism of PTI…

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      ISLAMABAD: Special Assistant to the Prime Minister Iqtidar Wali Khan has launched a strong criticism of the Pakistan Tehreek-e-Insaf (PTI), accusing members and supporters of the party of placing former prime minister Imran Khan above Quaid-e-Azam Muhammad Ali Jinnah and questioning their commitment to the country’s founding principles. Addressing a press conference in Islamabad, Iqtidar Wali Khan alleged that some PTI supporters consider Imran Khan a leader greater than Quaid-e-Azam and do not accept the Two-Nation Theory. He questioned how figures such as Barrister Gohar, Ali Zafar, Umair Niazi and Asad Qaiser, whom he described as patriotic individuals, could remain associated with the party while it was allegedly pursuing such politics. The prime minister’s aide accused PTI activists of repeatedly becoming part of what he called anti-state movements and attempting to continue the events of May 9. He also criticised slogans associated with PTI supporters, including “No Khan, No Pakistan,” and alleged that they compared Imran Khan with Quaid-e-Azam while making fun of Allama Iqbal’s vision for the country. Iqtidar Wali further criticised the PTI’s previous government and levelled serious allegations regarding its administration. He claimed that during the party’s tenure in power, the second floor of the Prime Minister’s House had allegedly been turned into a dance floor, where he alleged that drinking and dancing gatherings were held. He also made allegations about the presence of practices related to black magic within the government setup. He further accused the PTI leadership of making statements that, according to him, undermined the country’s defence capabilities during periods of tension with India. He claimed that when a conflict or Indian attack arose, some PTI figures would say that there was not even enough fuel available for Pakistan’s tanks. The special assistant also criticised PTI supporters for holding protests on Independence Day. He questioned why anyone would choose the national day for political demonstrations, arguing that such actions could cause concern among Pakistan’s enemies rather than contribute to national unity. He appealed to political parties to carefully consider PTI’s political conduct before forming alliances or cooperating with its leadership. Referring to comments attributed to Maulana Naseem Shah about the difficulties faced by Pakistan decades after Allama Iqbal’s dream, he urged political forces to examine what he described as the party’s actions before extending political cooperation. Iqtidar Wali also targeted the PTI-led government in Khyber Pakhtunkhwa. He claimed that the party had governed the province for around 15 years while repeatedly promoting slogans such as “Riyasat-e-Madina” and “Naya Pakistan.” He alleged that, despite these claims, individuals involved in drug trafficking, smuggling and the ice-drug trade had gained influence in the province. He further alleged that some people who previously lacked sufficient resources even for basic expenses had become owners of high-end hotels after gaining political influence. The remarks by Iqtidar Wali Khan come amid continued political tensions between the government and PTI. His statements reflect the sharp political divide between the two sides, with the government repeatedly accusing PTI of undermining state institutions, while PTI has consistently rejected such allegations and maintained that its political struggle is aimed at protecting democratic rights and securing political justice.

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    Fazlur Rehman urges peace as Kashmir protests cont…

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