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The decline in hopes of reaching a diplomatic agreement with Iran led to a significant increase in oil prices, with Brent crude rising by 2.1% to $89.70 per barrel, its highest level in several sessions. West Texas Intermediate also advanced by 1.6% to $83.53. The administration of U.S. President Donald Trump confirmed that it does not wish to return to the nuclear deal with Iran, focusing instead on imposing sanctions and increasing economic pressure on Tehran. The market saw a limited improvement in ship traffic flows through the Strait of Hormuz, although it remains below the usual average, reflecting escalating tensions and expectations of continued rises in oil prices. In precious metals, gold increased by 0.25% to around $1,460 per ounce, supported by concerns over U.S. debt and deficit, while U.S. unemployment claims fell to 203,000 in July, and the U.S. trade deficit widened significantly.
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