International oil prices jump more than 5% as escalating Middle East tensions raise fears of further supply disruptions.

Brent crude oil prices surged above $105 a barrel on Thursday as escalating hostilities in the Middle East heightened concerns over global energy supplies.

Futures for the international benchmark Brent crude oil for December delivery rose 5.2% to $105.36 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures for November climbed 5.1% to $92.75 a barrel.

The sharp increase came amid reports that US President Donald Trump and his national security team have discussed the possibility of resuming large-scale US military operations in Iran in the coming weeks.

International media, citing sources, reported that the options under discussion could include strikes before next month’s US midterm elections.

Market concerns have also intensified following a rise in regional hostilities. Iran-backed Houthis have recently targeted airports in Saudi Arabia, while Tehran has also reportedly attacked tankers in the Strait of Hormuz, a critical route for global oil shipments.

The developments have renewed fears that an escalation could disrupt crude supplies and place additional upward pressure on international oil prices.

Impact on Pakistan

The surge in global crude prices could create fresh challenges for Pakistan, where inflation has already returned to double-digit levels.

Analysts said a sustained increase in international oil prices could raise domestic fuel costs and add further pressure to inflation. Higher petroleum prices could also increase transportation and production costs across the economy, potentially fuelling another round of price increases.

With Pakistan heavily dependent on imported petroleum products, continued volatility in global crude markets could therefore put pressure on both consumers and the country’s external account.