ISLAMABAD (Khalid Mustafa) A sudden rise in oil prices has raised new inflation fears in the global economy, adding pressure to stock markets while also complicating the policy landscape for central banks in the US, Europe and Asia. According to Market Snapshot, the price of Brent crude oil rose to $107.75 per barrel, which is an increase of $4.67 or 4.53%, while the price of West Texas Intermediate (WTI) It rose 4.47 percent to 96.28 dollars per barrel. WTI Midland rose 4.78 percent to $97.98, while Murban crude rose 3.53 percent to $117.07 a barrel. The rise in oil prices came amid renewed geopolitical tensions in the Middle East. The Saudi-led coalition has said its forces have intercepted six ballistic missiles fired by Yemen’s pro-Iranian Houthis. These attacks were carried out to target the Saudi cities of Taif and Yanbu. The spokesman of the coalition forces, Turki al-Maliki, said that these attacks will be responded to strongly.