Gulf stocks advanced on hopes for a diplomatic resolution in the US-Iran conflict, despite recent attacks on Saudi oil facilities. This eased concerns over supply disruptions, driving crude oil prices down to a one-week low of $89.23 a barrel. The retreat in oil prices briefly tempered expectations for a US Federal Reserve rate hike, though money markets still show a 34% chance. Lower global oil prices could ease inflationary pressures in Pakistan, potentially impacting the State Bank's monetary policy and indirectly influencing local gold and currency rates.
بحوالہ / Source: www.brecorder.com