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Gold prices rise today in Saudi Arabia reaching 501 riyals for 24-karat gold
Gold headed for its biggest weekly loss in a month and a half
Trump accuses China of conducting the largest electoral data breach in history
Gold prices drop 2% amid rising expectations of a US interest rate hike
World Health Organization: Ebola Outbreak in Congo Sees Fastest Spread in History
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Oil prices have risen due to escalating tensions between the United States and Iran in the Gulf region, with American forces intensifying their strikes and Iran responding with rockets and drones targeting bases in the area. This escalation has disrupted oil flows through the Strait of Hormuz, and Iran has threatened its Houthi allies with closing the Red Sea export passage, amid concerns over the potential closure of the Bab el-Mandeb Strait. As a result, Brent crude prices increased to $85.28 per barrel, while West Texas Intermediate rose to $79.98, marking weekly gains of approximately 12%. The security escalation poses a significant threat to global oil supplies, with the International Energy Agency warning about the ongoing tensions.
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