Islamabad – Web Desk: Global markets plunged into turmoil after US President Donald Trump threatened to “obliterate” Iran if it fails to agree to a peace deal, sending crude oil prices soaring above $111 per barrel.
The trading week began amid intense uncertainty and fear, with oil prices breaching the $111 mark. The surge in energy costs triggered a stock market sell-off, deepening inflation concerns across major economies as investors rushed to dump shares.
Analysts attribute the panic to rising tensions around the Strait of Hormuz, a critical chokepoint for global oil shipments. Fears are growing that the region could be headed toward a severe energy crisis with worldwide implications.
The immediate trigger for the market volatility was Trump’s stark warning to Tehran: “Iran should move quickly toward a peace agreement, otherwise their name and trace will not remain.” The threat has rattled investors already nervous about potential military escalation in one of the world’s most sensitive energy corridors.
