18 Hrs
Source:
عين ليبيا
Oil prices surge as gold declines
Oil prices soared by over 3% due to escalating tensions in the Gulf, with Brent crude surpassing $90 a barrel, resulting from repeated attacks between the United States and Iran and the threat to navigation in the Strait of Hormuz. This escalation led to an earlier decline in oil flows, but data shows a partial recovery, with Gulf exports rising to 15-16 million barrels per day, although still below pre-war levels. Meanwhile, as oil prices increased, gold prices declined significantly amid expectations of a US interest rate hike, reflecting inflation pressures and reducing the appeal of the precious metal.
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