Oil Prices Steady as Houthi Attacks on Saudi Arabia Fuel Supply Concerns

Brent crude dipped slightly to $112.96, while US WTI was at $98.12, following a significant rise driven by Houthi attacks on Saudi Arabia, a major oil exporter. Saudi Aramco ordered an evacuation in Dhahran as clashes intensified, alongside a Libyan oil pipeline shutdown, further tightening global supply. The ongoing geopolitical tensions and supply disruptions are keeping crude prices elevated. Elevated crude prices could increase Pakistan's import bill, potentially weakening the PKR and making gold a more attractive inflation hedge for local investors.

بحوالہ / Source: www.brecorder.com