Brent crude futures jumped 7% to $100.66 a barrel, while US WTI rose 6.3% to $92.28, driven by Houthi attacks on Saudi tankers in the Red Sea and worsening supply disruptions in key shipping lanes. Goldman Sachs projects Brent could exceed $120 in Q4 if the Strait of Hormuz remains disrupted. Iranian strikes and a US naval blockade have further reduced oil shipments from the Gulf. This surge in international oil prices could fuel imported inflation in Pakistan, potentially weakening the PKR against the USD and increasing local gold demand as a hedge.
بحوالہ / Source: www.dawn.com