ISLAMABAD (Kashmir English): Due to increasing tensions in the Middle East, crude oil prices in the global market continue to fluctuate, resulting in slight increases and decreases in the prices of various types of crude oil.
The price of Brent crude oil in the global market increased by 0.04%, after which Brent crude oil reached the level of $ 95.67 per barrel.
According to economists, due to the ongoing tensions in the region, concerns are increasing regarding the global supply of oil, which is having a direct impact on crude oil prices.
On the other hand, the price of US crude oil West Texas Intermediate was also seen to increase. The price of US crude oil increased by 0.21% and reached the level of $ 91.20 per barrel.
Meanwhile, the price of Emirati Murban crude oil recorded a slight decrease; Murban crude oil is trading at $ 106.10 per barrel after a decrease of $ 0.05.
Economic experts say that the situation in the Middle East is very important for the global oil market. If tensions in the region increase further, there is a risk that oil production, transportation, and global supply will be affected, due to which further fluctuations in crude oil prices may be seen in the coming days.
