Shipping data reveals a sharp decline in commodity vessels transiting the Bab el-Mandeb strait after Yemeni Houthis attacked Saudi oil facilities, expanding the US-Iran conflict. This disruption has already pushed physical crude cargo prices in the Middle East, Europe, and Africa to two-month highs. A tanker carrying Saudi crude for Pakistan was among the few vessels exiting the Red Sea. This geopolitical tension and rising crude prices could potentially fuel inflation in Pakistan, impacting the PKR and increasing local gold demand as a hedge.
بحوالہ / Source: www.brecorder.com