Brent crude futures climbed 1.2% to $92 per barrel, reaching a five-week high, as widening Middle East conflict and threats of energy supply disruptions intensified. Attacks between the US and Iran, coupled with Houthi threats and incidents involving oil tankers, fueled market fears. Higher oil prices are generally inflationary and can widen trade deficits for crude-importing nations. This surge in crude oil prices could contribute to global inflationary pressures and potentially increase safe-haven demand for gold, while also putting pressure on Pakistan's import bill and the USD/PKR exchange rate.
بحوالہ / Source: www.brecorder.com