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Oil Prices Jump 3% as Hormuz Shipments Are Disrupted

Oil prices were pushed nearly 3% higher on Monday as escalating US-Iran tensions disrupted shipments through the Strait of Hormuz. Brent crude was lifted by $2.77, or 3.14%, to $90.87 per barrel, its highest level since June 11. WTI crude was increased by $2.35, or 2.85%, to $84.84, the strongest level since June 12. Brent and WTI were also driven sharply higher last week, when gains of 15.9% and 15.5% were recorded respectively.

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China to Train 300,000 Pakistani Youths in Digital Skills Every Year

Digital skills training will be provided to 300,000 Pakistani youths annually by China, Federal Minister Ahsan Iqbal announced at the 3rd LCCI IT Freelancing Awards 2026. Pakistan was described as the world’s fourth-largest freelancing country, with young professionals being credited for expanding the digital economy and increasing IT exports. The announcement was made during a discussion with LCCI President Faheemur Rehman Saigol in Lahore.

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PM Shehbaz Orders Fast-Track Rollout of Business Reform Act

The rollout of the Ease of Doing Business Act, 2025, has been ordered to be accelerated by Prime Minister Shehbaz Sharif to rebuild investor confidence and reduce regulatory pressure on businesses. A comprehensive implementation report has also been directed to be prepared. The reforms will be independently evaluated by international organisations to assess their impact. A more competitive business environment is being prioritised to attract domestic and foreign investment.

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Ogra Warning Is Issued as Fuel Price Increase Is Anticipated

Possible hoarding of petroleum products has been flagged by Ogra and the Oil Companies Advisory Council amid expectations of a price increase. The issue was reviewed by the National Coordination and Management Council, where fuel availability, supply-chain conditions and pricing behaviour were examined. Price stability and uninterrupted supply were emphasised as rising consumption and volatile global oil markets continued to create pressure.

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