US strikes Iran; oil up, gold down

Oil prices have risen sharply to reach their highest levels in two months, following the United States' recent missile strikes on Iranian targets in an escalation that threatens to deepen energy supply disruptions through the Strait of Hormuz. This escalation caused oil prices to increase by about 4%, with Brent crude surpassing $93 per barrel. Meanwhile, U.S. stocks experienced a decline with significant losses, and gold prices jumped by more than 2%. These developments come amid concerns over ongoing tensions between Washington and Tehran and a slowdown in navigation through the strait, which threatens the global oil supply—about one-fifth of the world's production passes through it—and poses substantial risks to financial markets.

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