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عين ليبيا
Oil hits 5-month high; gold update
Oil prices have risen significantly, approaching their highest levels in five months, amid escalating geopolitical concerns in the Middle East following Houthi attacks on Saudi targets and reports of attacks on ships in the Gulf. Brent crude reached its highest point since May at around $110.70 per barrel, while West Texas Intermediate futures climbed to approximately $104, supported by risks of deteriorating maritime security and energy supply disruptions. Conversely, gold prices declined by 0.4% to about $1,624 per ounce, as investors await the U.S. Federal Reserve's meeting on October 27-28 and possible signals of interest rate hold, which bolsters the precious metal’s appeal, especially given the diminished expectations for rate hikes and the current calmness of geopolitical tensions.
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