LONDON – Web Desk: Crude oil prices rose sharply in global markets following recent missile strikes between the United States and Iran, while several stock markets around the world faced pressure, according to media reports.
Brent crude oil prices reached $98 per barrel in international markets, while West Texas Intermediate crude traded near $95 per barrel. Experts say rising tensions in the Middle East and concerns over oil supply have made investors cautious, increasing volatility in energy markets.
Mixed trends were observed in Asian and European stock markets. The Pakistan Stock Exchange (PSX) closed with losses, as the KSE-100 Index fell 831 points to 170,190 points. Other global markets also remained under pressure, with stock markets in Germany, France, Britain, Hong Kong, and India recording declines. However, Japan’s Nikkei Index closed in positive territory with a gain of over two percent.
According to financial experts, if tensions between Iran and the US escalate further, there could be additional impacts on global oil markets, stock markets, and energy prices.
