NEW YORK: Oil prices in the global market have increased further after the US attacks on Iran, according to foreign media reports.
Crude oil prices in the global market continue to rise, with Brent crude oil rising $1.93, or 2 percent, to $96 per barrel, its highest level since June 8.
On the other hand, WTI crude oil rose $1.44, or 1.7 percent, to $88.27 per barrel.
In the previous trading session, Brent crude oil closed at $94.07 per barrel after rising more than $3, while WTI also recorded an increase of about 3 percent on Wednesday.
This increase came as US forces launched a new series of attacks on Iran, while Yemen’s Houthis have attacked oil tankers in the Red Sea.
The Government of Pakistan has once again increased the prices of petroleum products, according to a fresh notification.
As per the notification, the price of High-Speed Diesel (HSD) has been increased by Rs7.83 per litre, taking the new price to Rs375.04 per litre.
The government has also raised the price of petrol by Rs6.39 per litre, with the new retail price fixed at Rs327.12 per litre.
The revised prices will come into effect on July 23.
| Petroleum Product | Increase | Previous Price | New Price (July 23) |
|---|---|---|---|
| Petrol | Rs6.39/litre | Rs320.73/litre | Rs327.12/litre |
| High-Speed Diesel (HSD) | Rs7.83/litre | Rs367.21/litre | Rs375.04/litre |
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