Oil prices rise as supply risks grow, boosting gold demand

Oil prices rose today amid increasing risks to market supplies, as the United States downplayed the likelihood of talks with Iran and threatened broader strikes. This led to Brent crude approaching $92 per barrel and Nymex crude surpassing $85. Tensions are escalating following attacks on ships in sensitive waterways, as well as attacks on the Caspian Sea pipeline station, heightening worries about disruptions to global supplies. Experts anticipate that Brent prices will continue to rise, with a potential surpassing of $100 before the end of the year if the escalation persists and inventories dwindle, while the market remains under pressure from geopolitical tensions.

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