Brent crude dropped below $93 per barrel, extending losses by 8% after a pause in US-Iran hostilities eased Middle East tensions. This decline provided immediate relief to bond markets, with Indian government bonds surging and US Treasury yields easing. Lower oil prices are expected to ease inflationary pressures in the US, offering the Federal Reserve greater flexibility ahead of its interest rate decision. For Pakistan, this could translate into reduced import costs and potentially ease domestic inflationary pressures, indirectly supporting the PKR and impacting local gold demand.
بحوالہ / Source: www.brecorder.com