20 Hrs
Source:
الاقتصادية
Hope Lifts Hormuz, Oil Falls, Gold Rises
The article discusses developments in the oil and gold markets and the potential impact of an agreement on reopening the Strait of Hormuz on the global market. It highlights a decline in oil prices by approximately 1.5%, with Brent at $78 and WTI at $75, amid ongoing concerns over escalating tensions in the region. The report also indicates a possible progress in negotiations between Washington and Tehran, with Iran considering allowing European countries to clear mines from the strait, which could help stabilize the market. Additionally, US crude inventories have risen to 20 million barrels, and gold prices have increased as investor optimism grows about the possibility of an agreement, surging to over $4,130 per ounce due to reduced inflation concerns and the halt in interest rate hikes. The news suggests that any temporary deal could improve shipping traffic and ease market pressures, but it does not address all risks related to the war or Iran’s nuclear program.
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