ISLAMABAD (Web Desk) – Global oil prices have climbed once more following escalating tensions between Iran and the United States, alongside reports of disruption in the Strait of Hormuz.
Brent crude surged to $94.87 per barrel, while US crude reached $88.77 per barrel, reflecting renewed concerns over supply disruptions in one of the world’s most critical oil transit routes.
Analysts say any instability in the Strait of Hormuz, a key passage for global energy shipments, typically exerts upward pressure on oil prices due to fears of constrained supply.
Meanwhile, Asian stock markets showed positive movement despite the geopolitical tensions. Japan’s Nikkei index rose by 0.60%, China’s Shanghai Composite gained 0.76%, and Hong Kong’s Hang Seng index recorded an increase of 0.77%.
Market observers note that while energy prices are reacting sharply to geopolitical risks, equity markets in parts of Asia remain supported by investor optimism and regional economic factors.