Surging Oil Prices Could Derail Pakistan’s Fragile Economic Recovery ...Middle East

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Surging Oil Prices Could Derail Pakistan’s Fragile Economic Recovery
source : OILPRICE ( Middle East ) () 32
Oil prices jumped nearly 10% in Monday's early session after Iran launched a barrage of retaliatory missiles and drone strikes targeting Israel and U.S. bases in the Persian Gulf following the killing of Iran’s Supreme Leader Ayatollah Ali Khamenei on Saturday. And, it could get worse: JPMorgan Chase has warned that Brent crude oil prices could spike to $120 per barrel if the conflict leads to sustained disruption of oil flows through the Strait of Hormuz. Whereas the Strait of Hormuz has not officially been closed, it is experiencing a de…

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