Karachi stocks fall as global oil prices surge: KSE-100 loses 660 points

Yesterday, the index had closed at 152,907 points.

Karachi: The Pakistan Stock Exchange witnessed fluctuations today as the benchmark KSE-100 Index dropped by 660 points. The market slipped below the psychological level of 153,000 points, with the KSE-100 Index trading at 152,246 points.

Yesterday, the index had closed at 152,907 points, reflecting a cautious sentiment among investors amid market uncertainties.

Global Oil Prices Fluctuate:

Brent crude oil prices are continuing to fluctuate in the global market. Currently, Brent is trading at $106 per barrel, while WTI crude oil has seen a slight dip, standing at around $93 per barrel.

Meanwhile, UAE Murban crude oil has risen by 6% and is now being sold at $112 per barrel.

Financial analysts at Goldman Sachs warn that persistently high oil prices could have a significant economic impact in the United States, potentially leading to the loss of 10,000 jobs per month.