Oil holds above $97 as Iran Oman talks unsettle markets
Business
Oil prices held above $97 a barrel on Tuesday, with everyone watching talks between Iran and Oman over the Strait of Hormuz, a key route for global oil shipments.
If the deal goes through, Iran could gain more control over this chokepoint, making markets a bit uneasy about possible supply issues.
US jobs boost Fed hike odds
Strong US job numbers have traders betting on a Federal Reserve rate hike in September: August saw 162,000 new jobs (way above expectations) while unemployment stayed at 4.1%.
UBS is telling investors to keep an eye on stocks, consider longer-term bonds, and use gold as a safety net.
Gold prices stayed at $4,477.40 per ounce, but silver gained more than 1% as markets react to all the economic uncertainty.