Iran's Islamic Revolutionary Guard Corps (IRGC) has threatened to block "all other export corridors that benefit the US and its allies," following its closure of the Strait of Hormuz and US reimposition of a naval blockade. This comes amidst escalating hostilities, with Iran targeting US positions and Houthi allies warning they could shut the Bab el-Mandeb Strait, potentially sending oil prices soaring to $200 a barrel. The US has also conducted fresh strikes against Iranian capabilities.
The Strait of Hormuz, a critical chokepoint, would remain closed until "the end of America's evils," according to the IRGC. US President Donald Trump has also threatened to hit Iranian power plants and bridges if negotiations don't resume. These developments have already led to a significant rise in crude oil prices, with Brent and West Texas Intermediate reaching one-month highs.
The heightened geopolitical tensions and threats to global energy supply routes could fuel safe-haven demand for gold and potentially put upward pressure on inflation, which could impact gold and currency rates in Pakistan.
بحوالہ / Source: www.brecorder.com