Global Oil Prices Plunge Amid US-Iran Diplomatic Efforts

The world witnessed a decline in global oil prices due to rumors of US-Iran diplomatic talks. Brent crude oil prices dropped by nearly 4% to $95.67 per barrel. The WTI crude oil prices also declined by 3.7% to $28.60 per barrel. It’s worth noting that oil prices had decreased the previous day as well, but later increased. To mitigate the impact of rising petroleum product prices on the public, the Ministry of Finance took a crucial step. After a three-week hiatus, China’s shipping giant Cosco resumed bookings for some Gulf countries. The global gold market rate increased by $152 to $4565 per ounce. The previous day, the 100 index closed at 1,53,966 points. In the global gold market, the rate increased by $163 to $4413 per ounce. Three ships are expected to arrive in Pakistan from Kuwait, carrying crude oil. According to the All Pakistan Exchange Association, the price of gold per tola decreased by 43,600 rupees to 4,47,762 rupees. Iranian officials have stated that they have reviewed US proposals and found them unacceptable. Iranian Foreign Minister Amir Abdollahian has said that Tehran is closely monitoring US activities in the region, particularly military deployments. He added that Iranian Foreign Minister has met with his counterparts in neighboring countries, including Pakistan. China’s shipping giant Cosco has resumed bookings for some Gulf countries after a three-week hiatus. The Ministry of Finance has taken a crucial step to mitigate the impact of rising petroleum product prices on the public. Health experts have warned that shoulder pain should not be ignored as it can be an early sign of liver cancer.