Geopolitical tensions in the Middle East intensified as US forces bombed targets in southern Iran, and Iran retaliated against US sites, while a tanker was hit in the Strait of Hormuz. These escalations, coupled with Houthi threats of a Saudi blockade, drove Brent crude oil up 1% to $90.16 a barrel. Consequently, Indian government bonds slipped, with the benchmark 2036 yield rising to 6.7938%, as higher oil prices threaten to stoke inflation and widen import bills. For Pakistan, sustained high crude oil prices could increase import costs, potentially impacting the USD/PKR rate and supporting safe-haven demand for gold.
بحوالہ / Source: www.brecorder.com