Islamabad – Web Desk: Global oil markets experienced volatility after conflicting reports regarding the possible end of the Iran war.
Brent crude oil dropped from $118 to $106 per barrel, while WTI crude oil remained steady at $103 per barrel. Concerns over supply disruptions contributed to market fluctuations.
Meanwhile, UAE Murban crude oil prices rose 3%, selling at $121 per barrel.
The news coincided with strong gains in U.S. stock markets: the Dow Jones Industrial Average rose 2.5%, S&P 500 up 2.91%, and NASDAQ climbed 3.83%.
Analysts attribute the market swings to uncertainty about Middle Eastern stability and oil supply routes through strategic chokepoints like the Strait of Hormuz.
