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Commodities

Oil Prices Plummet as Gold Reaches Three-Month High

Guavy AI Editorial Team
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Oil Silver
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Commodity markets saw mixed trading on August 24, with gold and silver prices rising while crude oil prices declined due to profit-taking ahead of an expected US announcement on additional sanctions against Iran.

Brent crude fell $1.22, or 1.29%, to $93.17 a barrel, while West Texas Intermediate (WTI) crude dropped $1.20, or 1.38%, to $85.86 a barrel.

The decline in oil prices was attributed to investors booking profits ahead of the expected US announcement, which could further disrupt Middle East supplies.

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