US EditionOil Prices Jump and Gold Hits $5,000 as Tensions Ramp up Between Iran and the US
Oil prices reached $71.49 per barrel and gold topped $5,000 as U.S.-Iran tensions raised fears of supply disruption near the Strait of Hormuz, a key global oil route.
- Yesterday, oil reached a seven-month high as Brent crude rose 1.6% to $71.49 and U.S. crude increased 1.74% to $66.18, with gold surpassing $5,000 a troy ounce.
- U.S. and Iranian envoys met in Geneva amid negotiations, while U.S. military assets moved and Iran partially closed the Strait of Hormuz, as Vance highlighted stalled talks.
- Analysts said the latest move signals markets are pricing a stronger geopolitical risk premium, with the risk of disruption raising oil prices and inflation, according to Saxo Bank and Capital.com.
- About 20 million barrels of oil flow through the Strait of Hormuz every day, underscoring the supply risk, as markets react to US-Iran tensions and diplomatic efforts.
- Past U.S. strikes show how quickly oil can reprice, informing policy choices, as markets often recover from tensions, analysts said, urging diplomacy and military plans to keep flows open.
19 Articles
19 Articles
Oil prices jump and gold hits $5,000 as tensions ramp up between Iran and the US
Oil prices jumped Thursday to their highest level in nearly seven months and investors snapped up safe havens like gold, as tensions between the United States and Iran continue to flare.
Oil prices jumped on Friday (19) for its highest level in almost seven months and investors ran for safe assets such as gold, while tensions between the United States and Iran continued to increase. Brent, overall reference, rose 1.6%, to US$ 71.49 per barrel. American oil went up 1,74%, to US$ 66.18 per barrel. Petroleum prices increased after up to 4% on Thursday (18) and recorded its largest daily jump since October. Gold, generally considere…
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