Oil falls as gold waits on U.S.-Iran deal

Oil prices declined for the second consecutive session, with Brent crude decreasing by 0.54% to reach $82.72 per barrel, and West Texas Intermediate dropping by 0.31% to $80.51. This came amid anticipation of an initial agreement between the United States and Iran to end the Gulf conflict, although details regarding implementation mechanisms and the future of unresolved issues remain unclear. Morgan Stanley analysts predicted that the resumption of oil flow could take several weeks, with a 50% likelihood of returning to 80% of production by September and 80% by December. Meanwhile, gold prices rose slightly by 0.21%, reaching $4,317.02 per ounce, following an earlier increase driven by geopolitical concerns, as investors await the U.S. Federal Reserve's decision on interest rates.

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