By S.M. Inam
KARACHI: Global markets saw crude oil and gold prices surge to six-month highs as escalating tensions between the United States and Iran stoked fears of potential conflict in the Middle East. On Monday, Brent crude rose by 62 cents to $71.39 per barrel, while US crude climbed 37 cents to $66.21 per barrel, marking the highest levels since late 2025. Analysts attributed the spike to growing uncertainty over energy supplies amid the geopolitical crisis.
Gold also experienced a notable jump, gaining $107 to surpass $5,200 per ounce, driven by investors seeking safe-haven assets amid mounting instability.
Former US President Donald Trump weighed in on the crisis via his social media platform Truth Social, warning Iran of severe consequences if negotiations fail. He dismissed reports linking General Daniel to a potential strike on Iran as false, cautioning that misleading information about a possible war is being circulated. Trump added that the Iranian people are “great” and should not be harmed.
The developments come as markets closely monitor diplomatic efforts in the region, with investors increasingly wary of supply disruptions and geopolitical risks.
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