Oil prices surge as Iran-US tensions spark global supply fears

oil prices surge
oil prices surge
| Published June, 11 2026 | Updated
(Web Desk): Growing Iran-US tensions in the Middle East have driven oil prices sharply higher as investors fear disruptions to global energy supplies.

Oil prices surged in international markets on Wednesday as escalating tensions between Iran and the United States raised fresh concerns over the stability of global energy supplies.

According to international trading data, Brent crude oil climbed 1.54 percent to reach $95 per barrel, reflecting growing anxiety among investors about possible supply disruptions in the Middle East. The increase marks one of the strongest recent gains in global oil markets.

US West Texas Intermediate (WTI) crude also moved higher, rising 1.81 percent to trade at $92 per barrel. Market analysts said traders are closely monitoring developments in the region, where geopolitical uncertainty continues to influence commodity prices.

Meanwhile, the price of Murban crude, a key benchmark from the United Arab Emirates, increased by nearly 1.98 percent, reaching around $90 per barrel. The rise across major oil benchmarks highlights the broad impact of the ongoing tensions on global energy markets.

 

 

Economic experts say the Middle East remains one of the world's most important energy-producing regions. As a result, any military confrontation, political instability, or threat to shipping routes can quickly affect oil prices worldwide.

Analysts noted that fears of potential disruptions to oil production and transportation have intensified in recent days. These concerns have encouraged investors to push prices higher in anticipation of possible supply shortages.

Experts have warned that crude oil prices could rise further if tensions between Iran and the United States continue to escalate. Higher oil prices may increase inflationary pressures globally, raise transportation and manufacturing costs, and create fresh economic challenges for countries already struggling with slowing growth and high consumer prices.

Currency / Metal / Petrol Rates
Currency → PKR
Date Pair Rate
2026-06-10 USD to PKR 278.18
2026-06-10 EUR to PKR 321.29
2026-06-10 GBP to PKR 372.44
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Date Fuel Type Price
2026-06-11 Petrol (Super) 377.78
2026-06-11 High Octane (HOBC) 445.00
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