Brent crude fell 8.7% to $88.36 a barrel, and US WTI crude dropped 7.5% to $82.61, reaching their lowest levels in over a week. This decline followed the US suspending airstrikes against Iran, fostering optimism for a diplomatic solution and the resumption of oil shipments through the Strait of Hormuz. Despite the truce, analysts warn of continued volatility and constrained physical oil flows. Lower global oil prices could potentially ease Pakistan's import bill and inflationary pressures, indirectly influencing the rupee's stability and local gold demand.
بحوالہ / Source: www.brecorder.com