Oil drops while gold hits $4,615
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Oil prices declined for the fourth consecutive day amid anticipation of the impact of US sanctions on Iran and the potential reopening of the Strait of Hormuz by Iran and Qatar, which could ease supply disruptions in the Middle East. Brent crude dropped by 0.7% to $87.24 per barrel, while West Texas Intermediate decreased by 0.7% to $81.67. Meanwhile, gold prices rose, with the ounce reaching $4,615.27 after a previous decline of over 1%, as investors await statements from the US Federal Reserve Chair at the Jackson Hole symposium.
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