Oil down 2pc amid resumption of Hormuz shipments even as vessel hit near Oman

Crude prices sank 2 per cent on Friday and were headed for steep ‌weekly losses amid easing supply concerns as more stranded oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday, Reuters reports.

Brent crude futures fell $1.47, or 1.95pc, to $73.79 a barrel as of 0421 GMT, while US West Texas Intermediate fell $1.44, or 2pc, to $70.48 a barrel.

Our readers are at the heart of everything we do.
Do you have a thought to share or a way we can improve? We’d love to hear it. Reach out to us at feedback@dawn.com.

Iran Israel War

Comments

Branded Content

Resecurity partners with BankIslami Pakistan to enhance digital risk monitoring and cyber threat intelligence

The partnership marks a significant step in strengthening BankIslami's cybersecurity posture through cutting-edge intelligence capabilities.

Alif Holdings hosts Real Estate CEOs Conference with Bilal Yaseen live podcast by Mansoor Ali Khan

Topics expected to be discussed include housing policy, urban development, investment confidence, infrastructure planning and the future outlook of Pakistan’s real estate industry.

'The Tide Continues To Rise' – ABHI Microfinance Bank

ABHI Microfinance Bank entered 2026 with a gradual build-up of a more digitally enabled banking model.

Most Popular

'Hands of friendship': Iran president calls for new regional security structure among Muslim nations

Khawaja Asif comes under fire in NA for 'sweeping statement' regarding Kashmiris

Govt skips bidding for motorway project

Pezeshkian’s visit

Trouble at home

Weekly oil pricing mechanism to stay

Normal speed limits reinstated on motorways, highways

Parwaz Card initiative: 135 skilled youths leave for KSA to start jobs

Prime suspect in 7-year-old Sargodha girl's murder case killed during CCD encounter, police say

Latest Stories

Saudi Aramco resumes oil loading at Ras Tanura terminal in boost to supply

Indian authorities arrest staff accused of theft from temple built on site of razed Babri mosque

Four bodies bearing bullet wounds found inside ambulance in KP's Bannu

Oil down 2pc amid resumption of Hormuz shipments even as vessel hit near Oman

Mourners observe Ashura amid elaborate security arrangements

Australia reach FIFA World Cup knockout phase after goalless draw with Paraguay

Opinion

Why do nations fail?

Zafar Mirza

Those who established pluralistic political systems and inclusive economic institutions prospered.

Updated 26 Jun, 2026

Dams on Chenab — a target?

Ahmer Bilal Soofi

Updated 26 Jun, 2026

Lamp of guidance

Qasim A. Moini

26 Jun, 2026

Unintended consequences

Quatrina Hosain

Updated 25 Jun, 2026

Post-budget chores

Ishrat Husain

Editorial

Updated 26 Jun, 2026

After the budget

Though not a bad document per se, the budget for FY27 is a familiar one, and familiarity in our economic history is rarely cause for comfort.

26 Jun, 2026

Missing the mark

PAKISTAN’S commitment to the SDGs is routinely reaffirmed, but the gap between promises and progress continues to...

26 Jun, 2026

Up in smoke

PAKISTAN is watching an epidemic unfold as the menace of narcotic abuse hits every fourth household in Karachi ...

Updated 25 Jun, 2026

Reflection time

Israel is the biggest source of instability in the Middle East, and it is high time the US ended its blind support to Tel Aviv, if it genuinely wants peace in the region.

25 Jun, 2026