News Desk
LONDON: Crude oil prices have surged sharply in international markets as escalating conflict in the Middle East raises concerns over supply disruptions.
Brent crude climbed to around $87 per barrel, up from $73 on February 27, while US crude rose over 4% to $84.28 per barrel. British crude also jumped 2.24% to $87.32 per barrel.
More Details: https://metro-morning.com/imf-urges-pakistan-to-hike-petrol-and-diesel-prices/
Analysts say the increase is linked to uncertainty in key energy-producing regions and disruptions near the Strait of Hormuz, a critical route for global oil and LNG shipments.
The Kremlin noted that the Iran war has boosted demand for Russian energy products, with buyers such as China and India acting in their national interest. A US 30-day waiver now allows India to purchase Russian oil currently at sea, following months of Washington’s pressure on New Delhi.
Kremlin spokesman Dmitry Peskov said Russia remains a reliable supplier capable of guaranteeing deliveries under existing contracts, although exact volumes for India were not disclosed.
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