Gold and oil fall amid easing tensions and higher rate outlook
Oil and gold prices declined today, Tuesday, as the dollar held near its highest levels in a year amid expectations of a US interest rate hike. Brent crude fell by 1.43% to $76.79 per barrel, West Texas Intermediate declined by 1.41% to $72.82, and gold dropped by 1.78% to $4,116.83 per ounce. The declines came amid ongoing tensions in the oil market related to the resumption of flows through the Strait of Hormuz and expectations of tighter monetary policy in the United States.
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