Brent crude futures surged 4.80% to $98.59 a barrel, reaching their highest since June 3, driven by escalating US-Iran tensions and heightened shipping risks in the Red Sea and Strait of Hormuz. Houthi attacks on Saudi oil tankers further intensified concerns over global energy routes. While most Gulf stock markets saw modest gains from corporate earnings, geopolitical uncertainties capped upside potential. This rise in crude oil, coupled with regional instability, could fuel global inflation concerns and potentially increase safe-haven demand for gold, influencing local rates.
بحوالہ / Source: www.brecorder.com