Oil exceeds $106 as gold awaits
Oil prices rose during Thursday afternoon trading, reaching their highest levels since September 17. Brent crude futures climbed to $106.33 per barrel, up by 3.15%, while West Texas Intermediate futures increased to $94.56, up by 2.6%. This followed a morning decline amid market uncertainty driven by geopolitical tensions in the Gulf. In the precious metals market, gold prices stabilized around $4,283 per ounce as investors await the possibility of the Federal Reserve raising interest rates again before the end of the year. This expectation is supported by signs of increased odds of monetary tightening due to the growth of the U.S. economy and inflation pressures.
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