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Oil prices could skyrocket soon

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Islamabad —Gulf countries led by Saudi Arabia have opposed any potential US attack on Iran. Saudi Arabia, Qatar and Oman warned the United States that striking Iran could destabilize the global oil market and harm the US economy.

The report states that while Arab countries appear quiet publicly, they are lobbying behind the scenes to prevent an attack. Officials fear that any military action against Iran could deliver a severe shock to oil supplies worldwide and hurt economic stability.

Saudi authorities assured Tehran that they would not enter any conflict with Iran. They also said they would not allow the US to use their airspace for attacks. This move is aimed at distancing themselves from conflict while trying to block potential US action.

Gulf states worry a strike could disrupt tanker traffic through the Strait of Hormuz. This narrow waterway connects the Persian Gulf to the Arabian Sea and handles nearly one-fifth of global oil shipments. Any disruption could affect the global energy market.

The Trump administration has not specified the type of military action under consideration, though officials believe the chances of an attack are high. A White House official told the Wall Street Journal that President Trump has all options available to address Iran. He listens to advice but ultimately makes the final decision. Recently, Trump directly addressed Iranian protesters, encouraging them to resist government crackdowns, and wrote on his social media platform Truth Social that “help is coming.”

Read more: From talks to tech PM Shehbaz drives Pakistan digital payment revolution

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