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Oil steadies as gold gains on Iran tensions
Oil prices stabilized today, Monday, amid a slowdown in shipping traffic through the Strait of Hormuz following attacks targeting oil tankers and a Saudi refinery, which caused a temporary surge of over 5% last week. The transit of tankers has greatly decreased, as no ships passed through the Strait yesterday, Sunday, compared to 31 ships at the start of the previous week. This comes amid Emirati anger over Iran's attacks on ships belonging to its company, ADNOC. At the same time, gold prices slightly declined due to the falling dollar and expectations that U.S. interest rates will not be raised again, amidst ongoing tensions between Iran and the U.S. regarding recent talks with Tehran.
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