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Oil tumbles nearly 6% to $98.30 as Trump sends Iran peace plan, markets rally

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A pump jack operates outside of Midland, Texas, US, June 11, 2025.— ReutersUS sends peace plan to Iran, signals of de-escalation emerge.Iran says “non-hostile” vessels can pass through Hormuz.West Texas Intermediate was down 5.01% at $87.72.Brent crude oil, the…

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Oil heads for weekly gains despite US sanctions waiver on Russian oil

A drone view of a pump jack and drilling rig south of Midland, Texas, US June 11, 2025. — ReutersMeasures aimed at easing supply tightness fail to calm markets.Disruption of trade through Strait of Hormuz is ‘fundamental’.Brent more susceptible to energy security issues than WTI.<p…

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Bull run continues at PSX on IMF deal, current account surplus

Two investors can be seen discussing in front of the digital stock board at the Pakistan Stock Exchange. — AFP/File

The Pakistan Stock Exchange continued its bullish run on Tuesday, driven by investor optimism over Pakistan’s staff-level agreement with the…