Oil Prices Fall on US-Iran Diplomacy, Supporting Gold Rally

Crude oil prices fell for a second consecutive week, driven by optimism surrounding renewed US-Iran diplomatic efforts to reopen the Strait of Hormuz. US President Donald Trump announced talks would resume, with Iran and Oman reaching a preliminary agreement on a temporary shipping route, significantly easing immediate global supply fears. This reduction in geopolitical risk and energy costs is seen as a supportive factor for the ongoing gold rally. For Pakistan, lower international oil prices could alleviate imported inflationary pressures, potentially strengthening the Rupee and influencing local gold price dynamics.

بحوالہ / Source: oilprice.com