Pakistan, April 22 -- Global financial markets turned cautious on Tuesday as escalating tensions linked to the Iran conflict pushed oil prices sharply higher, raising fresh concerns about supply disruptions and inflationary pressure.

Read More: Oil prices surge as Strait of Hormuz closes again

Brent crude rose by around 4.5% to $99.78 per barrel, while West Texas Intermediate climbed 5.3% to $94.36, marking one of the largest single-day gains in recent weeks. The sharp increase brought benchmark crude prices close to the psychologically significant $100 level.

The rally was driven by fears of worsening geopolitical instability in the Middle East, particularly surrounding the ongoing Iran-related conflict and stalled diplomatic efforts....