Brent crude futures surged past $95 per barrel, their highest since June 11, amid escalating conflict in the Middle East disrupting critical energy chokepoints. This surge led to India's equity benchmarks logging their worst day in two weeks, as higher oil prices pose significant inflation risks for major crude importers. Two oil tankers reversed course in the Red Sea, and another was hit in the Strait of Hormuz, highlighting supply concerns. For Pakistan, a major crude importer, sustained high oil prices could fuel domestic inflation and put upward pressure on the USD/PKR exchange rate, potentially boosting local gold demand.
بحوالہ / Source: www.brecorder.com