Brent at $108 as Gulf States Halt Hormuz Talks Amid Houthi Strikes

Gulf states called off Monday's planned meeting with Iran regarding the Strait of Hormuz, coinciding with Houthi missile and drone attacks on Saudi Arabia's King Khalid airbase. These events follow a recent drone strike on Saudi Arabia's East-West pipeline, further intensifying regional instability. The escalating tensions have driven Brent crude oil prices to $108 a barrel. This geopolitical risk could bolster safe-haven demand for gold and exert upward pressure on Pakistan's import-dependent economy and the PKR.

بحوالہ / Source: oilprice.com