International oil benchmark Brent North Sea crude surged past $100 a barrel following Houthi rebel attacks on oil tankers in the Red Sea, bringing the Middle East conflict to a new front. This significant jump in oil prices is fueling investor concern over prolonged high energy costs. Analysts warn that sustained high oil prices could persist for months, impacting global inflation. For Pakistan, rising crude oil prices typically increase import bills, potentially pressing the Rupee against the Dollar and supporting local gold prices.
بحوالہ / Source: www.brecorder.com