Due to the Israeli-Palestinian war, crude oil prices have increased by 5% in the global market on Monday.

According to news outlets around the world, the price of West Texas Intermediate (WTI) crude oil went up today, hitting 88.39 dollars per barrel after going down for a while. The price of Brent crude oil also went up, reaching 88.65 dollars per barrel.

It is important to note that the price of crude oil on the international market has been going down for more than five weeks now. Experts say that the drop in the price of crude oil is because of worries about low demand and a slowing world economy. The Organization of the Petroleum Exporting Countries (OPEC), on the other hand, is not expected to cut oil production even more.

Experts have said in the past that if this trend continues on the global market, the price per liter in Pakistan may go down clearly. Recent events, on the other hand, have made things more difficult.