ISLAMABAD: Oil prices have once again risen sharply in the global market. A foreign news agency says that oil prices have risen due to rising tensions between Iran and the United States and the uncertainty surrounding the Strait of Hormuz.
British Brent crude prices have risen by 3.35% to $109.26 per barrel, while American West Texas Intermediate oil prices have risen by 4.2% to $105.42 per barrel.
British oil prices have risen by about 7.8% and American crude oil prices by more than 10% in the past week.
It should be noted that the prices of petrol and diesel have been reduced by five rupees per liter in Pakistan. If the price of oil continues to rise in the global market, prices in Pakistan may increase further.
