Brent crude futures rose 2% to $96 per barrel, reaching a six-week high, following US strikes on Iran and Houthi attacks in the Red Sea, intensifying Middle East tensions. This surge in oil prices has renewed global inflationary concerns, pushing short-term US Treasury yields to 17-week highs as traders anticipate the Federal Reserve may need to raise interest rates sooner. These developments could pressure international gold prices and the Pakistani Rupee due to higher import costs and a stronger US dollar outlook.
بحوالہ / Source: www.brecorder.com