KATHMANDU: The price of crude oil has soared after Iran launched ballistic missiles at two US airbases in Iraq on early Wednesday.
The price of crude oil went up by 2.5 percent in the Asian market to reach at $69.94 per barrel, international media reports said.
The price has been hiked based on the assumption that the Middle East countries would stop supplying petroleum products.
The petroleum products come to India through the Middle East. Iraq is the largest supplier of petroleum products, followed by Saudi Arabia, Oman and Kuwait, respectively. Nepal imports oil from India.
Similarly, the price of gold has also increased while the international stock market has plunged following the US-Iran tension.
Iran has struck two US airbases in retaliation after Iranian top commander Qasem Soleimani was killed in a US drone strike.
(With inputs from Agencies)
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