Oil climbs as Iran threatens retaliation and gold near $4,400
Oil prices climbed on Tuesday as worries grew over possible supply disruptions from renewed conflict in the Middle East.
after Iran threatened to retaliate against any new US attacks on its assets put extra focus on the Strait of Hormuz, a crucial route for global oil shipments.
While oil markets reacted quickly, gold stayed steady at about $4,400 per ounce as investors weighed global uncertainty and a weaker US dollar.
Brent $97.34, WTI $92.63, silver $66.22
Brent crude hit $97.34 a barrel, its highest since last July, and US WTI rose to $92.63, with traders keeping an eye on risks near the Strait of Hormuz, a key shipping route in the Middle East.
Meanwhile, gold prices barely budged after a recent dip, silver nudged up to $66.22 per ounce, and platinum was mostly stable while palladium rose as the US dollar slipped a bit lower.