Oil and gold fall as dollar rises
Oil prices have decreased significantly, approaching pre-Iran crisis levels, as supplies from the Middle East increase and exert pressure on the market. The futures contracts for West Texas Intermediate (WTI) fell to $69.64 per barrel, while Brent crude dropped to $72.72, marking their lowest levels since February 2026. This comes amid expectations of a quick return of Middle Eastern oil and increased Iranian exports following a temporary exemption from sanctions. Additionally, gold prices have declined to their lowest in over seven months, and the US dollar continues to rise, reflecting expectations of further monetary tightening in the United States.
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