Brent crude surged 3.3% to $94 a barrel, a six-week high, driven by intensified supply fears from US strikes and Red Sea shipping disruptions. This oil rally weighed heavily on Indian government bonds for a fourth session, with the benchmark yield rising, and the rupee weakening to a two-month low against the dollar. India, importing 90% of its crude, saw its macro outlook clouded. For Pakistan, sustained high oil prices could increase import bills, potentially pressing the USD/PKR rate and fueling domestic inflation, indirectly supporting gold demand.
بحوالہ / Source: www.brecorder.com