Brent crude futures surged 2.37% to $90.19 per barrel, reaching its highest since June 11, driven by intensifying US-Iran hostilities in the Middle East. US West Texas Intermediate crude also rose 2.07% to $84.20. The conflict, involving US strikes against Iran and alleged Iranian actions against tankers in the Strait of Hormuz, is disrupting oil trade through the crucial waterway. This sustained rise in global oil prices could potentially fuel imported inflation in Pakistan, putting upward pressure on USD/PKR and possibly increasing demand for gold as an inflation hedge.
بحوالہ / Source: www.dawn.com