Brent crude nears $90, gold hits high
Oil prices rose today, Wednesday, influenced by decreased hopes of reaching an agreement between the United States and Iran, as well as increasing concerns over potential disruptions in energy supplies due to attacks on two ships in the Gulf region. The futures contract for West Texas Intermediate (WTI) crude increased by 0.90% to $83.92 per barrel, while Brent crude rose by 0.83% to $89.65, amid declining expectations of a deal between Washington and Tehran and growing worries about the future of navigation through the Strait of Hormuz. In the precious metals market, gold prices hit a ten-week high, driven by reduced expectations for the Federal Reserve to raise US interest rates. December futures contracts increased by 0.17% to $4,448.70 per ounce, while spot prices rose by 0.45% to $4,389.81, amid rising economic and political uncertainty in the markets.
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