Iran: Tankers Turn Back from Hormuz After Fire Amid Mideast Tensions

Iran's Islamic Revolutionary Guard Corps (IRGC) reported Thursday that two oil tankers, attempting to transit the Strait of Hormuz with U.S. support, turned back after one caught fire. This incident, amid unabating Middle East tensions, raises concerns over global crude oil supply. Disruptions in the vital Strait of Hormuz often lead to higher oil prices. An increase in international crude oil prices could put upward pressure on Pakistan's import bill, potentially affecting the USD/PKR exchange rate and domestic inflation.

بحوالہ / Source: oilprice.com