Oil prices surged by approximately 3% in global market trading on Thursday following military maneuvers in the Persian Gulf. Following the Islamic Revolutionary Guard Corps' (IRGC) missile strike against U.S. bases in the region, Brent crude, the global benchmark, reached $97 per barrel in today's trading, reversing a decline of over 5% on Wednesday. Meanwhile, U.S. West Texas Intermediate (WTI) crude stood above $91 per barrel.
According to the IRGC's statement, following attacks by the U.S. military using aerial projectiles against a location on the outskirts of Bandar Abbas airport, the American airbase from which the attack originated was targeted in retaliation at 4:50 AM.
Simultaneously with escalating tensions and rising oil prices, gold prices in Thursday's global market trading fell to their lowest level in two months, influenced by a strengthening U.S. dollar, rising oil prices, and mounting anxieties regarding inflation driven by increased energy costs.
Fluctuations in the markets for other precious metals are also trending downward. The price of silver dropped by 3% to $72.37 per ounce. Platinum fell by 1.4% to $1,890.81 per ounce, and palladium decreased by 1.9% to $1,364.26 per ounce.
