Oil Prices Slip Despite Middle East Tensions

Brent crude traded at $89.46/barrel and WTI at $83.54/barrel, both declining roughly 1% from Wednesday's close. This dip occurred even as reports confirmed renewed US strikes on Iran and a drone attack on a tanker in an Egyptian port, suggesting supply concerns were temporarily outweighed by other factors. The continued passage of oil tankers through the Bab el-Mandeb Strait likely contributed to the price moderation. Lower crude prices could potentially ease global inflationary pressures, indirectly influencing international gold rates and the PKR's stability.

بحوالہ / Source: oilprice.com