Oil up 1% after Trump rejects Strait of Hormuz reopening
Business
Oil prices just shot up over 1% after President Trump turned down Iran's offer to reopen the Strait of Hormuz.
Brent crude is now at $105.64 per barrel, and US crude climbed to $93.11, so if you're wondering why fuel might get pricier, here's your answer.
Precious metals slide, dollar holds steady
While oil is on the rise, gold fell to about $4,265 an ounce after another rough week, and silver slid further to $63.77 an ounce. Platinum and palladium also took a hit.
Through all this market drama, the US dollar held steady as traders kept their eyes on what the Federal Reserve does next with inflation and jobs data coming up.