Global crude oil prices have climbed past $95 a barrel following fresh US strikes on Iran and Houthi attacks on Red Sea oil tankers, significantly hurting global risk appetite. This surge in oil prices is expected to stoke inflation and widen trade deficits for major importers like India. The renewed upward bias in crude oil is intensifying selling pressure in equity markets due to worries about higher inflation and widening deficits. For Pakistan, sustained high crude prices could pressure the rupee, increase imported inflation, and potentially boost local gold demand as a hedge.
بحوالہ / Source: www.brecorder.com