KARACHI – Fresh tensions flared across Middle East, and shockwaves quickly rippled through global financial markets. Oil prices surged nearly 5%, reigniting fears of higher inflation and economic uncertainty, while investors at Pakistan Stock Exchange rushed to cut their positions.
Global Oil Prices Today
Global energy markets rallied sharply on Monday as escalating tensions in the Middle East fueled fears of supply disruptions, pushing crude oil prices to multi-month highs.
Brent crude climbed 4.29% to $97.38 per barrel, while US West Texas Intermediate (WTI) crude gained 3.80% to settle at $94.34 per barrel. Murban crude also advanced 3.47% to $94.15 per barrel, reflecting growing concerns over regional stability and the security of key oil shipping routes.
| Last | Change | Change |
| WTI Crude | 94.34 | +3.80 |
| Brent Crude | 97.38 | +4.29 |
| Murban Crude | 94.15 | +3.47 |
| Natural Gas | 3.145 | -0.084 |
| Gasoline | 3.149 | +0.103 |
| Heating Oil | 3.763 | +0.175 |
| WTI Midland | 91.17 | -2.52 |
The rally comes amid heightened geopolitical uncertainty in the Middle East, with investors closely monitoring developments that could affect global energy supplies. Analysts warn that sustained increases in oil prices could add to inflationary pressures worldwide and weigh on energy-importing economies, including Pakistan.
The sharp rise in crude prices also rattled financial markets, contributing to a selloff in regional equities as investors assessed the potential economic impact of prolonged instability in the oil-rich region.
The result was a sharp selloff that wiped around 1,500 points from benchmark KSE-100 Index, showing how geopolitical turmoil thousands of miles away can instantly impact local markets.
At start session, KSE-100 Index plunged as much as 2,000 points during the session, touching 168,432.45 points. Although the market recovered some losses later, and is still down around 1500 points.
The development Global oil markets surged after fresh reports of military activity across the region. Brent crude jumped $3.20, or 3.39%, to $96.24 per barrel, while US crude rose $2.87, or 3.17%, to $93.41 per barrel.
The rally accelerated after reports of explosions in Tehran, Tabriz and Isfahan, raising fears that the conflict could broaden further and threaten oil shipments through the strategically critical Strait of Hormuz, a route vital to global energy supplies.
PSX had already shown signs of weakness in the previous session, with the KSE-100 Index closing down 696.57 points, or 0.41%, at 170,478.94 points after moving between an intraday high of 172,102.91 and a low of 170,254.65.
With oil prices surging, geopolitical tensions intensifying and budget uncertainty looming, investors now fear that Pakistan’s stock market could remain vulnerable to further volatility in the days ahead.
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