Most Gulf stock markets closed higher on Thursday, driven by strong corporate earnings. However, gains were capped by escalating geopolitical tensions in the Middle East, including US strikes on Iran and Houthi attacks on Saudi oil tankers in key shipping routes. These developments sent Brent crude futures soaring by 4.80% to $98.59 a barrel, reaching its highest since June 3. For Pakistan, sustained high oil prices could fuel imported inflation, potentially increasing local gold demand as a hedge and impacting the USD/PKR rate.
بحوالہ / Source: www.brecorder.com