nternational oil prices have crossed $116 per barrel, with Brent crude rising 2.7 percent as global energy markets continue to climb.

At the time of writing, Brent crude was trading at $116.20 per barrel, up $3.06. West Texas Intermediate (WTI) rose 3.13 percent, or $3.11, to $102.60 per barrel.

UAE crude, which Pakistan has used in its crude oil imports this year, gained 3.81 percent, or $4.20, to reach $114.20 per barrel.

The surge comes hours after natural gas prices in the European Union climbed to their highest level since 2022.

Rising international oil prices could put upward pressure on Pakistan’s fuel prices under the country’s daily fuel pricing mechanism in the