Oil and gold climb on Middle East supply worries
Business
Oil and gold prices climbed on Thursday, October 8, 2026, mainly because of persistent worries about supply from the Middle East and an increase in attacks on shipping in the Gulf and the Strait of Hormuz.
Brent crude hit $101.53 a barrel and WTI reached $89.39 a barrel, with traders worried about possible disruptions in vital shipping routes like the Strait of Hormuz.
Gold also edged up to $4,132.66 an ounce as the weaker dollar made it more appealing for global buyers.
Silver steady $61.34 Fed rate watch
Silver held steady at $61.34 an ounce, while platinum and palladium barely budged: everyone's watching to see if the US Federal Reserve hints at a rate hike soon.
It's another example of how quickly global events can shake up what things cost around the world.