Oil prices drop 5%, SBP expected to hold rates, easing inflation concerns

Oil prices drop 5%, SBP expected to hold rates, easing inflation concerns

Brent crude dropped 5.2% to $91.73 and US crude fell 5.4% to $84.45 after a reported halt in US-Iran attacks, providing relief from inflation concerns and potentially reducing Federal Reserve rate hike probabilities. In Pakistan, the State Bank is widely expected to maintain its policy rate today. This global and local monetary outlook could influence the US Dollar's strength and potentially support the Pakistani Rupee, impacting local gold prices.

بحوالہ / Source: www.brecorder.com