21 Hrs
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عين ليبيا
Oil and gold face pressure amid US-Iran tensions
Oil prices declined during Friday's trading, as markets awaited the possibility of an agreement between the United States and Iran to open the Strait of Hormuz, which could reduce disruptions to oil supplies in the region. West Texas Intermediate crude dropped to $93.07 per barrel, while Brent futures rose to $105.67, although both had experienced significant gains earlier. The prices depend on diplomatic developments between Washington and Tehran, with Iran confirming its readiness to open the strait if Washington eases its pressure. This increases the chances of resuming oil flows and impacts global markets. Market attention has shifted to the negotiations' outcomes, as any agreement would help stabilize oil supplies, while continued escalation would keep prices high.
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