Saudis Push Maritime Coalition Amid Oil Price Support from Middle East Disruptions

Oil prices are set for an 8% weekly loss, though disruptions in the Strait of Hormuz and Red Sea are supporting Brent crude near $90 a barrel. Saudi Arabia is actively seeking to organize a maritime coalition against the Houthis in response to these ongoing tensions. The IRGC also claims to have turned around several tankers in the Strait of Hormuz, adding to supply concerns. Sustained higher oil prices could contribute to imported inflation in Pakistan, potentially influencing SBP policy and the USD/PKR rate.

بحوالہ / Source: oilprice.com