Oil up, gold down amid US-Iran tensions
Oil markets experienced a rise amid a decline in gold prices, due to renewed military tensions between the United States and Iran, which affected energy supply movements through the Strait of Hormuz. Brent crude futures increased by 0.9% to $73.27 per barrel, while West Texas Intermediate rose by 1.2% to $70.04. Meanwhile, gold fell by 0.68% to $4,061.56 per ounce, amid increasing risks of escalation in tensions in the region.
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