Oil Falls to One-Week Low as Iran Sanctions Shrugged Off; Indian Shares Rise

Global crude oil prices fell 3.2% to $89.20 per barrel, reaching a one-week low, as market participants largely disregarded the latest US sanctions targeting Iran. This easing in oil prices contributed to Indian shares reversing earlier losses, with the Nifty rising 0.48% and the Sensex adding 0.37%. The market also experienced volatility ahead of a key Nifty 50 derivatives expiry. Lower crude prices could ease global inflationary pressures, potentially reducing gold's appeal as an inflation hedge and offering some relief for Pakistan's import bill and currency.

بحوالہ / Source: www.brecorder.com