Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region. Brent crude futures advanced $1.75, or 2%, to $91.65 a barrel at 0609 GMT. West Texas Intermediate crude (WTI) futures were up $1.91, or 2.2%, at $88.57 a barrel.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Foreign Reserves fall to the lowest since 2014

The State Bank of Pakistan’s (SBP) foreign currency reserves dropped to the…

Electricity generation starts from Thar coal power plant

Karachi: Sindh Energy Minister Imtiaz Ahmed Shaikh has announced that the trial…

ECB raises interest rates to 3.5 percent

The European Central Bank raised its benchmark interest rate by 0.25 percent…

Stocks gain 452 points on expected IMF deal

Shares at the Pakistan Stock Exchange (PSX) witnessed a bullish trend in…