Oil Up, Gold Down Amid Middle East Tensions
Oil prices rose by more than a dollar in early trading, continuing their gains for the fourth consecutive session, due to concerns over escalating tensions in the Middle East region. Brent crude futures increased by $1.57, or 1.6%, reaching $99.49 per barrel, while US West Texas Intermediate futures rose by $1.60, or 1.72%, to $94.63 per barrel. This rise comes amid market anticipation for upcoming US inflation data, with gold prices dipping slightly due to expectations of interest rate hikes and fears of inflation linked to regional escalation.
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