Crude oil prices surged above $98 a barrel due to escalating Middle East tensions, dampening global risk appetite. Indian shares extended losses for a fourth day, with the Nifty 50 falling 0.53% and Sensex 0.47%. High oil prices threaten inflation, widen trade gaps, and squeeze growth for major crude importers. This global risk aversion and rising oil costs could bolster safe-haven gold demand and potentially pressure the Pakistani Rupee due to increased import expenses.
بحوالہ / Source: www.brecorder.com