Oil falls after three-day rise gold stays steady
Oil prices retreated on Thursday after a three-day rally, as U.S. President Donald Trump downplayed the prospects of prolonged renewed attacks on Iran and confirmed that shipping through the Strait of Hormuz remains ongoing, with around 8 million barrels of oil streaming daily. Crude prices have risen by more than 50% since the beginning of the year, despite the risks of escalation between the United States and Iran. Data showed a decrease in U.S. oil inventories for the first time since late July, as efforts continue to maintain global oil supplies from the Gulf amidst ongoing tensions in the region.
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