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Pakistan inflation could cross 7 percent if Middle East war pushes oil to $130, economists warn
KARACHI: Pakistan’s fragile economic recovery could face renewed inflationary pressure if global oil prices surge to $130 per barrel amid the escalating Middle East conflict, economists and industry stakeholders warned this week. The warning comes after crude prices briefly spiked above $110 per barrel following hostilities involving the United States, Israel and Iran, raising fears of disruptions to energy shipments through the Strait of Hormuz, a strategic waterway that carries roughly one-fifth of the world’s oil supply.
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theguardian.com
Why an Iran war inflation shock could wreck global economic recovery
Central bankers and economists warn prolonged conflict could raise retail prices and rip up growth forecasts
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arabnews.com
Pakistan mulls energy conservation measures as oil prices rise, Middle East conflict intensifies
ISLAMABAD: Pakistan’s Sindh government and the federal government discussed energy conservation measures amid a sharp rise in global oil prices on Sunday, the Sindh chief…
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Pakistan to unveil austerity plan on Monday as Middle East conflict drives oil price surge
ISLAMABAD: Pakistan is set to unveil an austerity plan tomorrow, Monday, as surging global oil prices, driven by United States and Israeli strikes on Iran, mount pressure on Prime…
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Pakistan says three oil shipments to reach country today amid Middle East crisis
ISLAMABAD: Pakistan’s Petroleum Minister Ali Pervaiz Malik said this week that three oil shipments are expected to reach Pakistan on Monday, state media reported as Islamabad…
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Why has the Iran war sparked fears of stagflation for the global economy?
With oil prices soaring and stock markets falling, economists warn that a prolonged conflict in the Middle East risks knocking growth worldwide and boosting prices
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Pakistan stocks suffer second-largest plunge, fall 6.9% as Gulf conflict batters investor confidence
ISLAMABAD: Pakistan’s benchmark KSE-100 Index recorded its second-largest drop ever on Monday, plunging by over 11,015 points or 6.99 percent as surging oil prices due to the…
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Oil markets ‘in panic mode’ as analysts warn of even greater disruption
RIYADH: Oil prices climbed above $100 a barrel on March 9 for the first time since 2022 as conflict between the US-Israel alliance and Iran continued, but analysts believe more…
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Pakistan commerce body calls for ‘energy emergency’ to shield economy from Middle East conflict
KARACHI: Pakistan’s leading commerce body on Monday urged the government to declare an “energy emergency” to shield the country’s economy from an intensifying conflict between the…
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Pakistan says petroleum stocks at ‘comfortable levels’ despite Middle East crisis
KARACHI: Pakistan has “comfortable levels” of petroleum stocks and the supply chains are functioning smoothly, the finance ministry said on Monday, amid an ongoing Middle East…
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huffpost.com
Iran War Delivers Another Shock To The Global Economy
The conflict is driving up energy prices; threatening food shortages in poor countries; and complicating options for the inflation fighters at central banks.
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As Middle East war jolts oil markets, Pakistanis rethink how they live and work
ISLAMABAD: When Muhammad Ibraheem started his workday earlier this week, he didn’t head out to meet clients across Islamabad. Instead, he opened his laptop for a remote meeting,…
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Pakistan inflation could cross 7 percent if Middle East war pushes oil to $130, economists warn
KARACHI: Pakistan’s fragile economic recovery could face renewed inflationary pressure if global oil prices surge to $130 per barrel amid the escalating Middle East conflict,…
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Pakistan airfares rise as Middle East conflict drives fuel costs, airspace disruptions
ISLAMABAD: Pakistani travelers are facing higher airfares as airlines impose fuel surcharges and flight cancelations mount amid jet fuel price spikes and airspace disruptions…
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Fears of fuel shortage in Pakistan as tankers wait to fill up
Sheikhupura, Pakistan: Tanker drivers in Pakistan said they were facing long waits at depots due to a shortage of fuel, as the government played down fears of another rise in…
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Pakistan PM decides to hold fuel prices despite global surge driven by Iran war
KARACHI: Pakistan will not raise petroleum prices despite volatility in global energy markets driven by the escalating war in the Gulf region, Prime Minister Shehbaz Sharif said…