By S.M. Inam
KARACHI: Tensions in the Middle East, fueled by US and Israeli actions against Iran and the potential closure of the Strait of Hormuz, are keeping pressure on the global oil market.
As a result, Brent crude, the international benchmark for oil prices, surged 2.5% to reach $110 per barrel.
The market remains sensitive to geopolitical developments in the region, with analysts warning that any escalation could push prices even higher.
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