Oil Tankers Attacked in Hormuz Strait; Geopolitical Risk Rises

Two oil tankers were hit by "unidentified projectiles" in the Strait of Hormuz, a British maritime agency reported, causing a small fire on one vessel. The incident occurred amidst ongoing US-Iran tensions and blockades in the waterway, which handles a fifth of the world's oil and LNG. While no casualties or major environmental damage were reported, authorities are investigating the attacks. This escalation could lead to higher crude oil prices, potentially increasing safe-haven demand for gold and putting upward pressure on USD/PKR.

بحوالہ / Source: www.brecorder.com