Brent crude futures surged 0.6% to $85.45 a barrel, extending this week's 12% gain, as geopolitical tensions escalated in the Middle East with Washington striking Iran and Tehran warning of war. Concurrently, a benign US inflation reading lessened the risk of an imminent Federal Reserve rate hike, impacting global bond markets. Asian shares broadly fell, though Chinese equities saw gains. This combination of rising oil prices and easing US rate hike fears could support international gold prices, while the Middle East conflict adds a safe-haven premium, potentially influencing local gold and currency markets in Pakistan.
بحوالہ / Source: www.brecorder.com