Global oil prices climbed sharply following missile exchanges between the United States and Iran, raising fresh concerns about stability in the Middle East and the potential impact on energy supplies.
According to media reports, Brent crude was trading at $98 per barrel, while West Texas Intermediate (WTI) reached $95 per barrel in international markets. The latest surge reflects investor fears that escalating tensions between Washington and Tehran could disrupt global oil flows.
Meanwhile, stock markets across Asia and Europe showed mixed performance. In Pakistan, the KSE-100 Index closed at 170,190 points, shedding 831 points during the trading session amid cautious investor sentiment.
Several major international markets also witnessed declines, including those in Germany, France, the United Kingdom, Hong Kong, and India. However, Japan’s Nikkei Index bucked the trend, gaining more than 2 percent as investors responded positively to domestic market factors.
Analysts warn that continued geopolitical uncertainty in the Middle East could keep oil prices volatile and weigh on global financial markets in the coming days.
