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Commodities

Crude Oil Surges 10%, Gold Rises Amid West Asia Tensions

Guavy AI Editorial Team
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Oil Gold
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Escalating tensions in West Asia have sent crude oil prices surging by over 10% this week, with Brent Crude futures reaching a two-month high of $102 per barrel.

The surge is attributed to ongoing US attacks on Iranian targets and recent attacks on Saudi oil tankers in the Red Sea. As a result, global energy markets are increasingly uncertain.

Gold prices have also risen, increasing 2% this week as investors sought safe-haven assets amid growing tensions.

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