Oil rises as gold prices fall
Oil prices continued their upward trend for the fifth consecutive session, driven by fears over the impact of the US-Iran conflict on global energy supplies. Brent crude futures rose by 0.55% to $92.12 per barrel, while US West Texas Intermediate futures increased by 0.34% to $84.60, amid ongoing concerns about disruptions in the Middle East and the postponement of negotiations between the conflicting parties. Meanwhile, gold prices declined as investors took profits after hitting their highest level in over two months, following US liquidity support measures and market reactions to inflation risks and regional tensions. The market remains sensitive to developments in the war and negotiations between the United States and Iran, with oil supply disruptions in the region continuing to weigh on sentiment.
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