Global oil prices surged sharply on Friday as escalating conflict in the Middle East disrupted energy supplies and forced buyers to seek alternative crude sources. The surge follows the effective closure of the Strait of Hormuz, a critical shipping route responsible for transporting a significant portion of the world’s oil. Read More: Pakistan seeks Saudi oil […]
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Oil slips as diplomacy eases fears over global supply
Global oil prices moved lower on Wednesday as progress in talks between the United States and Iran reduced fears of potential supply disruptions from the Middle East. Investors reacted cautiously, shifting focus from geopolitical risks toward rising production and inventory concerns. In early Asian trading, Brent crude slipped slightly to around 67.39 dollars per barrel, […]