Crude oil prices jumped 5% to $98.75 a barrel, hitting a seven-week high after Yemen's Houthis claimed attacks on oil tankers, intensifying Middle East tensions. This surge in energy costs is raising concerns for the global economic outlook and increasing the likelihood of interest rate hikes. Copper, often a bellwether for economic health, dipped despite tight inventories, reflecting these broader anxieties. Higher global oil prices could contribute to imported inflation in Pakistan, potentially weakening the PKR against the USD and increasing demand for gold as an inflation hedge.
بحوالہ / Source: www.brecorder.com