Crude Oil prices rise in global market

ISLAMABAD: Crude oil prices have increased again in the global market, creating concern in the energy sector.

According to the latest report, the price of US crude oil has gone up by 3%, reaching $97 per barrel. At the same time, British crude oil has also increased by 2.2% and is now being sold at $96.86 per barrel.

Economists say this rise in oil prices is mainly due to global political tensions, especially the situation in the Middle East.

In this situation, recent remarks by US President Donald Trump have also influenced the market. He said that US forces will maintain their presence around Iran and stay ready until a full and genuine agreement is achieved. He warned that if tensions increase further, the US will respond strongly.

The US president also made it clear that Iran will not be allowed to obtain nuclear weapons. He added that the important shipping route, the Strait of Hormuz, will remain safe and open to ensure global trade continues smoothly.

Experts believe that if tensions in the region continue, oil prices may rise further, which could impact the global economy, especially countries that depend on oil imports.