Shakargarh, Pakistan – Web Desk: Federal Minister for Planning Ahsan Iqbal has said that global oil prices could have surged beyond $250 per barrel if a ceasefire had not been facilitated between the United States and Iran.
Addressing a public gathering in Shakargarh, Iqbal credited Prime Minister Shehbaz Sharif and Chief of Army Staff Asim Munir for their role in promoting de-escalation between the two countries.
He said the conflict between Washington and Tehran had triggered a global oil crisis, warning that continued hostilities could have severely impacted energy markets worldwide.
“If the ceasefire had not been achieved, oil prices could have exceeded $250 per barrel,” Iqbal stated.
The minister added that efforts are ongoing to ensure a complete end to tensions between Iran and the United States, with the aim of stabilizing global oil markets and reducing fuel prices.
Analysts note that geopolitical tensions in the Middle East remain a key driver of volatility in global energy prices, with any escalation having immediate ripple effects across international markets.
