Global oil and gold prices climb

Global oil and gold prices have risen, influenced by renewed military tensions between the United States and Iran, as well as a decline in the US dollar and Treasury bond yields. The price of Brent crude increased by 1.1%, reaching approximately $96.70 per barrel, the highest level in six weeks. However, it slightly retreated by 0.12% by the close. West Texas Intermediate crude oil rose by 0.32%, amid concerns over potential supply disruptions in the Middle East due to ongoing conflicts. The weakening dollar supported expectations of higher gold prices, despite fluctuations in its price following some economic data releases.