Gold's Monthly Close Caught in Limbo Amid Middle East Tensions

Oil prices have been volatile in recent days due to escalating air attacks between the U.S. and Iran, as well as signs that the war may spread to other parts of the Middle East.

Brent crude futures, the global oil benchmark, are currently trading at around $89 per barrel but temporarily reached $100 per barrel last week.

The contract remains above pre-war levels, and prices have been supported by recent strikes between the U.S. and Iran, as well as indications that the war may involve other countries in the region.

An unidentified drone struck gas vessels at Egypt's Damietta port near the Suez Canal on Wednesday, triggering fires and raising concerns about another critical energy transit route being threatened.