Prime Minister Shehbaz Sharif condemned Houthi militia attacks on Saudi Arabian oil tankers in the Red Sea, reaffirming Pakistan's unwavering support for the Kingdom. The Houthis claimed strikes on two Saudi tankers, threatening global oil supplies via the Bab el-Mandeb Strait and Strait of Hormuz. This escalation has already caused tankers to divert course, highlighting risks to maritime commerce. Rising crude oil prices from such geopolitical tensions could increase Pakistan's import bill, potentially weakening the PKR and boosting local inflation, which may support gold demand.
بحوالہ / Source: www.brecorder.com