London, United Kingdom – Web Desk: Global crude oil prices rose sharply after renewed missile exchanges between the United States and Iran, heightening concerns over geopolitical instability and supply disruptions in energy markets.
According to international market reports, Brent crude traded near $98 per barrel, while West Texas Intermediate (WTI) hovered around $95 per barrel during recent sessions.
Asian and European equity markets showed mixed performance amid rising uncertainty. Investors reacted cautiously as tensions in the Middle East added pressure on global risk assets.
In Pakistan, the Pakistan Stock Exchange benchmark index fell by 831 points, closing at 170,190 points, reflecting broader regional market volatility.
European markets, including Germany, France, and the United Kingdom, along with Hong Kong and India, also recorded declines. However, Japan’s Nikkei index gained more than 2%, bucking the global trend.
Analysts say the surge in oil prices reflects growing fears that continued military escalation between Washington and Tehran could disrupt key shipping routes and global energy supplies.
