Omar warns of oil shock from conflict
Opposition Leader in the National Assembly Omar Ayub Khan addressing a press conference in Islamabad on March 11, 2024. SCREENGRAB
Leader of the Opposition in the National Assembly Omar Ayub Khan has warned that the ongoing Iran-Israel war will shake the global economy as Iran and Kuwait hold the world's largest oil wells.
Speaking at a press conference, the PTI leader described Israel's onslaught on Iran as a terrorist attack, lamenting that the Iranian leadership was attacked that plays an important role.
He said the world consumes 104 million barrels of oil per day. If anything happens in the aftermath of the conflict, strategic reserves would last only about 12 days.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
8 hours ago
- Business Recorder
Punjab Assembly Speaker suspends 26 opposition members
The Speaker of the Punjab Assembly Malik Ahmed Khan on Saturday suspended 26 members of the opposition party, Pakistan Tehreek-e-Insaf (PTI), for disrupting Chief Minister Maryam Nawaz's speech and causing chaos in the assembly session, according to Aaj News. The Assembly Secretariat confirmed that the suspension was issued under Rule 210(3) of the Assembly Rules, barring the members from attending the next 15 assembly sittings. During the session, opposition members shouted slogans, engaged in physical shoving, and tore official documents, violating the assembly's rules of conduct. The Speaker 'condemned' their behavior, saying such disorderly conduct damages the dignity and discipline of the House. He acknowledged that while protesting is a right of assembly members, it must follow the limits set by the Constitution and parliamentary procedures. The Speaker emphasized that maintaining order in the assembly is essential and will be strictly enforced. The suspended lawmakers include Malik Fahad Masood, Muhammad Tanveer Aslam, SSyed Riffat Mehmood, Yasir Mahmood, Kaleem Ullah, Ansar Iqbal, Ali Asif, Zulfiqar Ali Shah, Ahmad Mujtaba Chaudhary, Imtiaz Mehmood, Ali Imtiaz, Muhammad Ejaz Shafi, Sajjad Ahmad, and others. The suspension came after the opposition's loud protests disrupted the assembly during the Chief Minister's address, forcing the Speaker to take action to uphold the assembly's dignity and ensure smooth proceedings.
Express Tribune
11 hours ago
- Express Tribune
Trump denies reports of $30bn nuclear offer to Iran
US President Donald Trump walks on the day of a "One Big Beautiful" event at the White House in Washington, DC., US, June 26, 2025. PHOTO: REUTERS Listen to article US President Donald Trump dismissed media reports that said his administration had discussed possibly helping Iran access as much as $30 billion to build a civilian-energy-producing nuclear program. CNN reported on Thursday and NBC News reported on Saturday that the Trump administration in recent days had explored possible economic incentives for Iran in return for its government halting uranium enrichment. The reports cited sources. CNN cited officials as saying that several proposals were floated and were preliminary. "Who in the Fake News Media is the SleazeBag saying that 'President Trump wants to give Iran $30 Billion to build non-military Nuclear facilities.' Never heard of this ridiculous idea," Trump wrote on Truth Social late on Friday, calling the reports a "HOAX." Since April, Iran and the US have held indirect talks aimed at finding a new diplomatic solution regarding Iran's nuclear program. Tehran says its program is peaceful and Washington says it wants to ensure Iran cannot build a nuclear weapon. Trump, earlier this week, announced a ceasefire between US ally Israel and its regional rival Iran to halt a war that began on June 13 when Israel attacked Iran. The Israel-Iran conflict had raised alarms in a region already on edge since the start of Israel's war on Gaza in October 2023. The US struck Iran's nuclear sites over the last weekend and Iran targeted a US base in Qatar on Monday in retaliation, before Trump announced the ceasefire. Israel is the only Middle Eastern country widely believed to have nuclear weapons and said its war against Iran aimed to prevent Tehran from developing its own nuclear weapons.
Express Tribune
11 hours ago
- Express Tribune
Iran slams Trump over 'disrespectful' remarks on Supreme Leader
Iran has condemned remarks by US President Donald Trump as 'disrespectful and unacceptable' after he claimed credit for saving Iran's Supreme Leader, Ayatollah Ali Khamenei, from 'an ugly and ignominious death,' AFP reported on Saturday. Iranian Foreign Minister Abbas Araghchi responded strongly on the social media platform X, warning that such language would not help efforts to restart negotiations. The complexity and tenacity of Iranians is famously known in our magnificent carpets, woven through countless hours of hard work and patience. But as a people, our basic premise is very simple and straightforward: we know our worth, value our independence, and never allow anyone… — Seyed Abbas Araghchi (@araghchi) June 27, 2025 'If President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran's Supreme Leader, Grand Ayatollah Khamenei, and stop hurting his millions of heartfelt supporters,' Araghchi posted. He added that 'the great and powerful Iranian people, who showed the world that the Israeli regime had no choice but to run to 'Daddy' to avoid being flattened by our missiles, do not take kindly to threats and insults.' Earlier, Donald Trump claimed he prevented the assassination of Supreme Leader Ayatollah Ali Khamenei, declaring he would have allowed the strike but chose not to. Posting on his social media platform Truth Social, Trump said he halted a plan involving the US Armed Forces and Israel to kill Khamenei, following recent Iranian assertions that nuclear facility damage was overstated. 'I knew exactly where he was sheltered, and would not let Israel, or the US Armed Forces, by far the greatest and most powerful in the world, terminate his life,' Trump wrote. 'I saved him from a very ugly and ignominious death, and he does not have to say, 'Thank you, President Trump!'' he added. Trump criticised Khamenei for his recent statement calling Iran's response to US and Israeli strikes 'a slap' to Washington. The president described the Supreme Leader's words as 'anger, hatred, and disgust,' and said he immediately abandoned work on sanction relief as a result. He also issued a warning to Tehran: 'If Iran continues down the path of nuclear weapons, the bombing will resume, and it will be far worse.' The comments come amid high tensions in the Middle East after a 12-day war between Iran and Israel, followed by a US-brokered ceasefire.
