Oil Prices Fall, Gold Surges as Israel-Iran Conflict Enters Day Four

Global oil prices fell on Monday as concerns about a broader Middle East war began to ease, despite Israel and Iran continuing to exchange missile strikes for a fourth consecutive day. The retreat in oil prices came after an initial surge last week sparked by Israel’s surprise strikes on Iranian military and nuclear facilities, which killed several senior figures. Brent crude dropped 0.4% to $73.95 per barrel, while West Texas Intermediate (WTI) declined 0.2% to $72.82 per barrel in early trading. The earlier spike had raised fears of global inflationary pressures and supply disruptions from the region. Flight to Safety Boosts Gold Prices Gold prices rose sharply as investors sought safety amid geopolitical uncertainty. The precious metal climbed to around $3,450 per ounce, edging closer to its all-time high of $3,500. Equities were mixed globally, as markets reacted to both geopolitical tensions and upcoming monetary policy announcements. Central Banks, Tariff Talks in the Spotlight I...