ISLAMABAD: Oil prices are falling by 2 to 3 percent in the global market.
US crude oil fell by 2.98 percent to $101.94 per barrel, while Brent crude oil is trading at $108.17, down 2.02 percent.
On the other hand, the US has warned in a fresh threat that commercial ships passing through the Strait of Hormuz should not pay toll fees to Iran.
The US Treasury Department said in a statement that it is aware of the toll fees charged by Iranian security agencies to pass through the Strait of Hormuz. Sanctions will also be imposed on organizations that donate to organizations such as the Iranian Red Crescent Society.
