The ongoing conflict involving Iran, United States, and Israel is beginning to take a heavy toll on the global economy with financial losses mounting across key markets. According to Arab media reports, stock markets in the UAE, particularly in Dubai and Abu Dhabi have collectively lost around $120 billion since the conflict began.
At the same time, rising oil and gas prices have resulted in an estimated loss of 111 billion rupees for consumers and businesses worldwide, as energy costs continue to surge. Concerns over crude oil supply disruptions remain high, further fueling market uncertainty.
In global trading, Brent Crude Oil prices climbed to $113 per barrel, while WTI Crude Oil was seen trading at $103 per barrel.
Asian stock markets showed mixed reactions. Pakistan Stock Exchange performed positively, with its benchmark KSE 100 index rising by over 1.5 percent to close at 148,743 points. However, South Korea’s KOSPI index dropped more than 4 percent, while markets in India and Japan also recorded notable declines, reflecting widespread economic uncertainty.
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