ISLAMABAD: Crude oil prices have suddenly increased in the global energy market amid the ongoing series of attacks between the United States and Iran.
According to the details, Brent crude futures rose by 58 cents, or 0.8 percent, after which the price of Brent crude rose to $ 72.57 per barrel.
Similarly, US West Texas Intermediate (WTI) crude was seen trading at $ 70.11 per barrel after rising by 88 cents, or 1.3 percent.
According to data, Brent crude fell by 10.6 percent last week, which was the third consecutive weekly decline.
Experts say that the global oil market is currently under several risks, but investors are keeping an eye on the aspect of how, if global supply improves, it will affect the overall balance.
Oil prices fell another 5 percent in the global market. According to experts, this unusual complacency in the market could prove dangerous if the restoration of supply is slower than expected.
In the current situation, oil shipments are facing various obstacles, including tanker delays, damage to infrastructure, and some production shutdowns.
