20 Hrs
Source:
عين ليبيا
Oil Gains as Iran Risks Influence
Oil prices rose significantly today, with Brent crude for September delivery gaining 1.13% to reach $84.72 per barrel, while West Texas Intermediate increased by 0.54% to $80.77. This followed a sharp decline in the previous session due to fears of escalating tensions between the United States and Iran, particularly regarding the strategic Strait of Hormuz. The rise came after the U.S. postponed attacks on Iran, amid expectations that any new escalation in the near future could put additional pressure on global oil supplies. In the gold market, the precious metal remained around $4,060 per ounce, with expectations divided between a continued rise driven by ongoing tensions or a temporary dip before a rebound, as shipping activity through the strait stabilizes.
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