Commodities
Crude Oil Prices Soar Amid Escalating Iran-Israel Conflict
Crude oil futures have risen in response to the escalating crisis in West Asia. The price increase of 0.37% brings the price per barrel to Rs 7,404 on the Multi Commodity Exchange.
The rise in crude oil prices is largely attributed to the ongoing conflict between Iran and Israel. Analysts believe that the recent missile attacks by Iran have contributed to the surge in oil prices.
Globally, West Texas Intermediate crude has seen a 0.49% increase, trading at USD 77.67 per barrel, while Brent crude has risen by 0.81% to USD 83.16 per barrel in New York.