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LONDON: Global oil prices moved higher on Friday and were set to post strong weekly gains as investors closely monitored escalating tensions between the United States and Iran, raising fears of potential disruptions to energy supplies from the Middle East. Brent crude futures advanced by 1.45%, reaching $88.33 per barrel, while US West Texas Intermediate (WTI) crude rose 1.26% to $82.27 a barrel. The gains came as diplomatic efforts aimed at easing regional conflict showed little progress, increasing uncertainty in global energy markets. Market participants remained focused on reports that Washington could intensify economic pressure on Tehran, including the possibility of expanding maritime restrictions and tightening sanctions. Analysts said any further deterioration in relations between the two countries could have a significant impact on global crude exports, particularly given the Middle East’s critical role in oil production. Energy analysts noted that concerns over supply interruptions have become a key driver of recent price movements. While no major disruption has yet occurred, traders are pricing in the risk that a broader conflict could affect shipping routes and regional oil infrastructure. “Geopolitical developments continue to dominate market sentiment,” analysts said, adding that a major escalation could trigger a sharper increase in oil prices and add to inflationary pressures worldwide. Meanwhile, economic data from the United States added another dimension to market activity. A survey released on Friday indicated that consumer sentiment weakened in early August as households faced higher living costs, partly linked to rising energy prices and global uncertainty. US retail sales data also came in weaker than expected, leading investors to scale back expectations of another interest rate increase by the Federal Reserve next month. The softer economic outlook pushed the US dollar lower and reduced Treasury yields, offering support to commodities priced in dollars, including gold and oil. Spot gold prices climbed 0.69% to $4,380.03 per ounce, while US gold futures settled 0.4% higher at $4,437.30 an ounce as investors sought safe-haven assets amid geopolitical concerns. In currency markets, the Japanese yen strengthened slightly against the US dollar, trading near 159.37 per dollar. The movement followed reports that the Bank of Japan may consider raising interest rates as early as September. However, traders continued to watch the key 160-yen level, which could prompt intervention by Japanese authorities. Global equity markets showed mixed performance. On Wall Street, technology stocks weighed on major indexes after recent gains. The Dow Jones Industrial Average slipped 73.41 points, while the S&P 500 and Nasdaq Composite also closed lower. Despite Friday’s decline, both the S&P 500 and Nasdaq remained on course for a third consecutive weekly gain. European markets also ended lower, snapping a four-week winning streak as rising oil prices and geopolitical risks overshadowed generally positive corporate earnings. MSCI’s global equity index edged down 0.09%, reflecting cautious investor sentiment, while Asia-Pacific shares outside Japan recorded modest gains. Market strategists said investors are increasingly balancing optimism over corporate earnings and expectations of easier monetary policy against uncertainty surrounding international conflicts. John Sidawi, Senior Portfolio Manager at Federated Hermes, observed that financial markets have recently shown resilience despite geopolitical shocks, but warned that this calm may not last indefinitely. He noted that either a significant escalation in conflict or a clear diplomatic breakthrough could lead to a much stronger market reaction than current asset prices suggest.

KARACHI: Positive momentum returned to the Pakistan Stock Exchange (PSX) on Monday as investors stepped up buying activity across major sectors, pushing the benchmark KSE-100 Index above the 181,000-point mark during the opening phase of trading. At around 9:40am, the benchmark index was trading at 181,066.59 points, showing an increase of 961.98 points, or 0.53%, compared with the previous close. The early-session recovery reflected renewed investor interest in large-cap and index-heavy companies. Buying was particularly visible across automobile assemblers, cement, commercial banking, fertiliser, oil and gas exploration, oil marketing companies (OMCs), power generation and refinery sectors. Among the major stocks supporting the upward movement were Mari Petroleum (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), Hub Power Company (HUBCO), Habib Bank Limited (HBL), MCB Bank, Meezan Bank Limited (MEBL) and United Bank Limited (UBL). Most of these index-heavy shares traded in positive territory during the initial hours. The recovery came after a difficult week for the domestic equity market. The KSE-100 Index had closed the previous week at 180,104.61 points, declining by 1,325.41 points, or 0.7% on a week-on-week basis. Market sentiment had been affected by heightened geopolitical uncertainty, particularly concerns over the future of the US-Iran ceasefire and the potential impact of regional tensions on international energy supplies. Investors also remained cautious over developments affecting shipping activity around the Strait of Hormuz and the Red Sea, both of which are critical routes for global energy and trade. Despite the pressure on equities, Pakistan’s domestic fiscal position and external-sector indicators had provided some support to investor confidence. However, geopolitical developments continued to dominate trading decisions, particularly because any prolonged disruption to oil supplies could raise import costs and increase inflationary pressures. Global markets remain cautious The cautious mood was also evident across international markets on Monday. Asian equities moved largely sideways as investors monitored developments in the Middle East and assessed the implications for energy prices and global inflation. Oil prices recorded significant gains during the previous week as uncertainty surrounding efforts to end the Iran conflict increased concerns about potential supply disruptions. Investors remained particularly focused on developments concerning the strategic Strait of Hormuz, where tanker traffic had remained disrupted amid the continuing tensions. Iran on Saturday called on the United States to acknowledge defeat, while US President Donald Trump warned Americans that higher gasoline prices could persist as long as the conflict continued. The situation in the wider region also remained volatile. In southern Lebanon, Israeli strikes on Saturday killed at least 11 people, according to the Lebanese health ministry. The casualties came amid renewed tensions following an earlier US-mediated framework aimed at easing hostilities between Lebanon and Israel. Oil prices remain elevated Crude oil prices remained at elevated levels on Monday after recording strong gains during the previous week. Brent crude was trading around $88.50 per barrel, little changed during the session after climbing approximately 6% last week. Meanwhile, US West Texas Intermediate (WTI) crude slipped around 0.3% to $82.12 per barrel, following a weekly gain of about 5.4%. Higher international oil prices remain a key concern for oil-importing economies such as Pakistan because a sustained increase can widen the import bill, put pressure on the current account and contribute to domestic inflation. For investors at the PSX, developments in global energy markets are particularly important because oil and gas companies have significant representation in the benchmark index, while higher fuel costs can also affect the profitability of other industries. Asian equities mixed In regional markets, MSCI’s broadest index of Asia-Pacific shares outside Japan was broadly flat on Monday. Japan’s Nikkei 225, meanwhile, gained around 0.4%. The mixed performance reflected investor caution as markets continued to assess the potential economic consequences of prolonged geopolitical tensions. Concerns over energy prices, inflation and interest-rate expectations remained central to global market sentiment. At the PSX, however, the strong opening suggested that domestic investors were willing to look beyond short-term geopolitical concerns and accumulate fundamentally strong stocks. Whether the KSE-100 can sustain its early gains will depend on developments in global oil markets, regional tensions and trading activity in heavyweight sectors as the session progresses.