Global crude oil prices rose sharply on Thursday amid uncertainty over US-Iran negotiations. The increase reflects growing concerns over potential supply disruptions in the international energy market. Investors reacted to heightened geopolitical tensions driving volatility in oil trading.
Brent crude climbed above $103 per barrel during trading sessions. Meanwhile, West Texas Intermediate (WTI) was seen trading near $95 per barrel. The upward movement indicates strong market sensitivity to developments in diplomatic talks.
Read more: Oil prices surge near $100 amid Iran tensions
Furthermore, Asian stock markets showed mixed performance amid global uncertainty. Some indexes declined while others recorded gains. The variation reflects cautious investor sentiment across regional markets.
In Pakistan, the stock market also faced pressure during trading. The benchmark index dropped by nearly 1,907 points to 169,671. Analysts linked the decline to global market instability and rising oil prices.
Read more: Oil Prices Drop After Pakistan Proposal Shakes Global Market
Elsewhere in Asia, Hong Kong’s Hang Seng and Japan’s Nikkei both fell. However, South Korea’s Kospi posted gains. Indian stock markets also showed a downward trend amid broader regional weakness.