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Oil prices fall over $4 after Trump halts planned Iran strikes

ByJustpaste.in

Global oil prices recorded a significant decline after US President Donald Trump announced that the United States would halt its planned military strikes on Iran, easing concerns over a potential escalation in the Middle East and reducing fears of disruptions to global energy supplies.

In international trading, crude oil prices fell by more than $4 per barrel as investors reacted positively to the announcement, leading to a broad sell-off in oil futures.

Brent crude, the international benchmark for oil prices, dropped by $4.08 to settle at $83.85 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude declined by $4.01, bringing its price down to $80.66 per barrel.

Market analysts said the sharp decline reflected improving investor confidence after the reduction in geopolitical tensions between Washington and Tehran. The possibility of avoiding direct military confrontation eased concerns about supply disruptions from one of the world’s most strategically important oil-producing regions.

The Middle East plays a critical role in global energy markets, and any signs of conflict involving Iran often trigger volatility in crude oil prices. Investors closely monitor developments in the region due to the importance of key shipping routes, including the Strait of Hormuz, through which a significant portion of the world’s oil exports passes.

Last month, oil prices surged by more than 20 percent after renewed US military action against Iran and reports that Tehran-backed forces targeted several oil tankers near Oman. Those incidents heightened fears of supply interruptions, driving both Brent and WTI crude to their highest levels in months.

With the latest announcement from President Trump, traders have shifted their focus toward the possibility of improved regional stability. However, energy market experts caution that oil prices are likely to remain volatile, as any renewed geopolitical tensions or disruptions to oil transportation routes could quickly reverse the recent decline.

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    14 cities bid to host T20 World Cup 2028 matches

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    Rs19,000 billion federal spending sparks Senate de…

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    Islamabad: A Senate committee has raised serious questions over the functioning of the Council of Common Interests (CCI), warning that constitutional powers given to provinces after the 18th Amendment are being weakened through the revival of federal ministries on devolved subjects. The Senate Standing Committee on Devolution expressed concern that ministries related to education, health, agriculture, food security, climate change and other provincial matters were recreated at the federal level despite their transfer to provinces under the constitutional process. The committee questioned why federal institutions were continuing to handle matters that were supposed to belong to provinces after the 18th Constitutional Amendment, calling for a review of the entire system. The meeting was held at Parliament House, Islamabad, where Senator Zamir Hussain Ghumro presided over the session. Senators Poonjo Bheel and Jan Muhammad Buledi also attended the meeting. Senator Ghumro said that under the 18th Amendment, a detailed process was completed in 2010 and 2011 to transfer powers from the federal government to provinces. He explained that notifications issued on December 2, 2010, April 15, 2011, and June 29, 2011 resulted in the devolution of 17 ministries dealing with subjects that were shifted to provincial control. According to Senator Ghumro, the recreation of ministries after June 30, 2011, on subjects already transferred to provinces was against the spirit of the Constitution. He specifically pointed towards areas including education, health, national food security, culture, climate change, housing, social initiatives, EOBI, Evacuee Trust matters and Zakat and Ushr related functions. The senator argued that creating federal structures for provincial subjects has increased government expenses at a time when Pakistan is facing financial pressure. He claimed that federal government expenditure has increased to around Rs19,000 billion, while the country’s total tax and non tax revenue stands near Rs20,000 billion. Senator Ghumro said that apart from defence requirements due to security challenges, other federal ministries should have limited budgets according to constitutional responsibilities. He suggested that reducing unnecessary federal administrative structures could save around Rs5,000 to Rs6,000 billion and help reduce dependence on foreign loans. The committee also raised concerns about the ineffective role of the Council of Common Interests, a constitutional body responsible for resolving issues between the federation and provinces. Senator Ghumro said the CCI’s permanent secretariat was not functioning effectively and stressed that the institution must be strengthened to protect provincial rights. The committee decided to form a subcommittee to examine alleged violations related to the implementation of the 18th Amendment, including the revival of ministries and the role of the CCI. Senator Poonjo Bheel said that ministries created on devolved subjects should be abolished because the matter had already been settled through the constitutional process. Senator Jan Muhammad Buledi said the subcommittee should not only review the recreated ministries but also examine why the CCI had become ineffective despite having an important constitutional role. The committee also directed the Establishment Division to avoid making appointments in departments dealing with devolved subjects and ensure that provincial representation is protected in government appointments and promotions. Officials were asked to provide details of appointments in different grades within two weeks and submit a compliance report within 15 days. It emphasized that the federal government should support provinces rather than reduce their constitutional benefits. The committee also reviewed the issue of the Rs46 billion allocation for Quaid-e-Azam’s Mausoleum, which was not released last year and was reportedly transferred to another ministry. The committee directed authorities to provide monthly progress reports regarding the development and maintenance of Mazar-e-Quaid. The committee further sought details about the tenure of federal secretaries and directed the Establishment Division to submit complete records.

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    Nadia Khan addresses divorce rumours with social media post

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    Pakistani television host and actress Nadia Khan has seemingly dismissed recent rumours about trouble in her marriage by sharing a photograph with her husband, Faisal Rao, on social media. The post came after several YouTubers claimed that the couple had separated, sparking widespread speculation online. Nadia Khan is one of Pakistan’s most recognisable television personalities. She has appeared in dramas including Des Pardes, Bandhan, Manzilen, Kaisi Aurat Hoon Main, Dolly Darling, Kumzarf and Aesi Hai Tanhai. She is also known for her candid opinions on the entertainment industry through programmes such as Kya Drama Hai and Rise & Shine. Beyond television, Nadia enjoys a strong digital presence through her YouTube channel, OutStyle with Nadia, and has more than 2.6 million followers on Instagram. The actress married retired Pakistan Air Force officer Faisal Rao in January 2021. Since then, the couple has been living in Karachi and has largely kept their personal life away from the public eye. Although Nadia remains active on social media, she rarely shares family-related content and has stepped away from family vlogging because of her busy schedule with Kya Drama Hai and Rise & Shine. In recent days, Nadia’s limited posts about her personal life led to speculation from several YouTube channels, which claimed that she and Faisal Rao had divorced. Among those making the claim was YouTuber Mehreen Sibtain, while other content creators also repeated similar allegations. The rumours quickly spread across social media, prompting discussion among fans. Despite the growing speculation, Nadia chose not to issue a direct statement or publicly address the claims. Instead, after the rumours gained traction online, she shared a photograph with her husband on her Instagram Story. The image, posted around six hours before Reviewit published its report, appeared to reassure followers that the couple remains together. While Nadia did not write a lengthy caption or explicitly mention the divorce rumours, many social media users interpreted the post as her response to the ongoing speculation. Fans described the picture as a subtle but effective way of putting an end to the claims without engaging in unnecessary controversy. The actress has previously maintained that she prefers to keep her personal life private despite her public career. Over the years, she has focused her online presence primarily on her professional work, television appearances and lifestyle content rather than regularly sharing details about her family life. Following the Instagram Story, many of Nadia’s followers criticised the spread of unverified rumours and urged social media users to avoid believing claims that are not confirmed by the individuals involved. The shared photograph has since been widely viewed as Nadia Khan’s way of dismissing the divorce speculation, with no evidence supporting the claims that she and Faisal Rao have ended their marriage. 

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    Pakistani climbers reopen historic Hindu Kush pass after 27 years

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    CHITRAL: A team of Pakistani mountaineers has successfully crossed the historic Phargam An Pass in the Hindu Kush mountain range for the first time in 27 years, marking a major achievement for the country’s mountaineering community. The expedition successfully reached the 5,100-metre-high Phargam An Pass, completing a challenging journey through one of the most remote and difficult mountain routes in northern Pakistan. The expedition also made history as female climbers reached the summit for the first time, highlighting the growing participation of women in Pakistan’s adventure and mountaineering sector. The mission was organised in Upper Chitral with the support of the Khyber Pakhtunkhwa Culture and Tourism Authority. During the expedition, the team also discovered the memorial of Austrian mountaineer George Kronberger, who lost his life in the area in 1975. Despite facing dangerous glaciers, steep snow-covered slopes, rocky terrain and the constant threat of avalanches, the team completed the expedition safely. Expedition guide Zamrud Khan said the route to Phargam An Pass has changed significantly over the years due to the effects of climate change, making the journey more challenging than in the past. Three sisters from Chitral—Mehrosh Akhtar, Ismail Roz and Madhu Shala Akhtar—took part in the historic expedition, setting a new milestone for women in Pakistani mountaineering. Other members of the expedition included Kamran Khan, Samar Khan, Nauman Khan, Noorul Rahman, Zohaib Khan, Umar Khattab Sherani, Sohniya Babar, Amina Shabbir and Madiha Syed. The successful expedition is being seen as an important milestone for adventure tourism and mountaineering in Pakistan, while showcasing the country’s growing potential as a destination for high-altitude exploration.

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    The Odyssey crosses Rs. 183 crore, targets Rs. 200 crore in India

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    Fatima Zahra wins historic Commonwealth Games boxing bronze

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    GLASGOW: Pakistani boxer Fatima Zahra made history by winning a bronze medal in the women’s 60kg boxing event at the Commonwealth Games, becoming the first Pakistani woman to secure a boxing medal at the prestigious multi-sport event. Fatima’s campaign ended in the semi-finals after she was defeated by Canadian boxer Maria. Despite the loss, she earned the bronze medal under the tournament’s competition format, marking a significant milestone for Pakistan’s women’s boxing. During the semi-final, the Canadian boxer established a 4-1 lead in the opening round. The referee stopped the contest in the second round, bringing the bout to an early conclusion and ending Fatima’s hopes of reaching the final. Before advancing to the semi-finals, Fatima delivered an impressive performance in the quarter-finals by defeating New Zealand’s Jordan Wilson. The victory secured her place among the top four boxers in the competition and guaranteed Pakistan a medal. The achievement is particularly significant as it marks Pakistan’s first boxing medal at the Commonwealth Games since 2014. It also represents a historic breakthrough for women’s boxing in the country, with Fatima becoming the first Pakistani female boxer to reach the podium at the Games. Speaking after the semi-final, Fatima said the bronze medal was an important achievement, although the team had entered the event with hopes of winning the gold medal. She described the medal as an encouraging step for Pakistani women’s boxing and said it would inspire more female athletes to pursue the sport at the highest level. Fatima added that the journey to the Commonwealth Games had required years of hard work, dedication and sacrifice. She said reaching the podium showed that Pakistan’s women boxers were making steady progress and moving in the right direction. Sports officials and boxing supporters praised her achievement, describing it as a major boost for women’s boxing in Pakistan and a source of inspiration for the country’s young athletes. The women’s 60kg boxing final will be held on Saturday, with India’s Priya set to face Canada’s Mary Almahdi in the gold medal contest.

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