Oil Futures Rebound Slightly Amid Weekly Losses, Precious Metals Soar

International crude oil futures rose more than 1% on August 8, according to Caixin. The WTI crude oil September contract increased by 1.15%, while the Brent crude oil October contract rose 1.29%. However, despite these gains, both contracts experienced significant weekly losses: the WTI contract fell 7.67%, and the Brent contract dropped 4.98%.

In contrast, international precious metals futures broadly rose. COMEX gold futures increased by 2.37% to USD 4,401.3 per ounce, with a weekly gain of over 7%. COMEX silver futures also advanced, rising 3.56% to USD 63.8 per ounce and gaining more than 10% for the week.