Saudi Aramco is increasing crude oil offerings from Egypt's Sidi Kerir port via the Suez-Mediterranean Pipeline, shifting supply routes due to Houthi threats to Saudi shipping in the Red Sea. This move aims to ensure flexibility in reaching markets after Houthi attacks on oil tankers. The rerouting of significant oil supplies from a major producer like Saudi Arabia could introduce volatility to global crude oil prices. Higher crude oil prices could potentially fuel inflation, increasing demand for gold as an inflation hedge and putting pressure on the Pakistani Rupee due to higher import costs.
بحوالہ / Source: www.brecorder.com