Global crude oil prices rise sharply amid tensions

ISLAMABAD: Global oil prices have increased significantly in the international market.

The price of WTI crude oil has risen by 11.42%, reaching $111.5 per barrel. At the same time, Brent crude oil has also gone up by 7.87%, with its price now at $109 per barrel.

Experts say this increase is mainly due to rising global tensions and concerns about oil supply. These factors are creating uncertainty in the market, pushing prices higher.

The rise in oil prices is expected to affect economies around the world, as fuel is a key part of many industries.

In Pakistan, petroleum prices have already reached record highs. Because of this, electricity, gas, and daily-use items are likely to become more expensive in the coming days.