Brent crude oil surged past $100 per barrel, driven by an escalating Middle East crisis and US threats of military action after attacks on Saudi oil tankers. This marks the first time in two months crude has reached this level, signaling heightened geopolitical risk. Higher oil prices pose a significant threat to major crude importers like India and Pakistan, potentially stoking inflation, widening trade deficits, and squeezing economic growth. For Pakistan, sustained high crude prices could pressure the USD/PKR exchange rate and increase demand for gold as an inflation hedge.
بحوالہ / Source: www.brecorder.com