Oil prices rise today to their highest level in five months, with prices climbing about three per cent after Houthi attacks in Saudi Arabia raised concerns about further disruption to energy supplies from the key exporting region. Brent futures rose $3.51, or 3.2 per cent, to $112.33 a barrel at 1705 GMT, which is 10:05pm Pakistan time.
Benchmark prices move higher
Brent is the reference price used for much of the world's crude, and it led the rise. US West Texas Intermediate, the main American benchmark, climbed $2.14, or 2.2 per cent, to $99.29 a barrel over the same period. Both contracts moved in the same direction, though Brent's gain was larger in both dollar and percentage terms.
Why supply fears are driving prices
The move reflects concern about what could happen next rather than a confirmed loss of supply. Attacks on Saudi Arabia, a major oil producer, raised the prospect that flows from the region could be disrupted further. Markets tend to react quickly to such risks, which is why prices can rise before any shortfall shows up in deliveries.
What remains unconfirmed
Key details have not been confirmed, including the scale of the attacks, any damage to oil facilities and whether crude flows have been affected. Prices may move again as more information emerges, so the latest levels should be checked against live market data.
Aasan alfaaz mein
Aalmi bazar mein tel ki qeemat paanch mahine ki sab se oonchi satah par pohanch gayi hai. Saudi Arabia par Houthi hamlon ki wajah se supply mein rukawat ka khatra barh gaya hai. Abhi koi asal kami confirm nahi hui hai, lekin petrol aur diesel ki qeemat par asar ho sakta hai. Pakistan mein naye rate ke liye official ailaan ka intezar karein.
