New York (Lord Media): Global oil prices have further declined following the effects of an interim peace agreement between the United States and Iran. Brent crude oil prices fell by 1.6 percent at the start of trading, reaching 78.43 U.S. dollars per barrel.
Investor confidence in Japan, South Korea, and other Asian markets has seen an uptick, resulting in improvements in stock indices.
The agreement has raised expectations of improved global energy supply, leading to a positive trend in Asian stock markets. Japan’s Nikkei 225 index increased by 1.9 percent, while South Korea’s KOSPI and Taiwan’s TAIEX indices also recorded gains of over one percent.
The falling global oil prices have brightened the prospects for a significant reduction in petrol prices in Pakistan. The government may reduce petrol prices to provide relief to the public.
