Web Desk: Global crude oil prices rose sharply as renewed military exchanges between Iran and Israel fueled concerns over regional stability and the potential impact on a fragile ceasefire outlook.
In international commodity trading, Brent crude was recorded at around $98 per barrel, while West Texas Intermediate (WTI) stood near $95 per barrel.
The escalation also triggered a broad sell-off in global equity markets. Pakistan Stock Exchange’s benchmark KSE-100 Index dropped by 1,480 points during intraday trading, falling to 168,998 points.
Asian markets were also hit, with South Korea’s KOSPI declining more than 8 percent and Japan’s Nikkei Index falling over 3 percent.
European markets, including Germany, France, and the United Kingdom, along with Hong Kong and India, also showed a downward trend amid rising geopolitical uncertainty.
