Karachi (HRNW) — Crude oil prices have risen further in global markets amid growing concerns over a prolonged disruption to international oil supplies.
According to Reuters, Brent crude rose 0.54% in early trading to $96.80 per barrel.
The report said concerns over a prolonged disruption to global oil supplies have intensified following fresh attacks by the United States and Iran involving vessels passing through the Strait of Hormuz.
The rise in crude oil prices could put additional pressure on petroleum prices and inflation in oil-importing countries.
Human Angle
A sustained increase in global oil prices could affect fuel, transportation, electricity and other essential costs, placing additional financial pressure on consumers already facing inflation.
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Disclaimer
This report is based on the information provided and the Reuters report cited therein. Global oil prices can change rapidly depending on geopolitical developments, supply conditions and market demand.
