Topic
strikes
Commodities Gold whipsaws in choppy trading as US completes new Iran strikes, Strait of Hormuz closed
Gold experienced sharp swings after the US completed fresh strikes against Iran, which prompted Tehran to close the Strait of Hormuz to all vessels. Bullion rose as much as 1.1% after an earlier drop near $4,000/oz, while US inflation accelerated to 4.2% year-over-year in May, driven by war-induced energy costs. Trade executives face heightened uncertainty over shipping routes and inflation.
Commodities Oil Prices Jump After Iran Missile Strikes Test Fragile Ceasefire with Israel
Oil prices climbed on Monday morning after Iran fired missiles at Israel for the first time since a fragile ceasefire was agreed in April. Brent crude jumped 2.6% to $95.50 a barrel, while US crude rose 2.5% to $92.75. The strikes threaten to further disrupt oil and gas shipments through the Strait of Hormuz.
Commodities Oil Prices Surge Amid Israel-Lebanon Tensions
Oil prices increased by over $2 per barrel following renewed Israeli strikes on Lebanon, escalating Middle East tensions. This development threatens crude flows through the Strait of Hormuz, a critical chokepoint for global oil supply.