Oil Prices Slip as Saudi Tensions Rise, Gold Holds Steady Amidst Inflation Concerns

Commodity markets were mixed on September 21 as investors weighed various factors. Oil prices declined due to concerns over recovering Saudi shipments amidst ongoing Middle East tensions.

Brent crude futures dropped 81 cents, or 0.78%, to $103.06 a barrel after settling down 0.91% on Friday. US West Texas Intermediate crude was at $99.41 a barrel, down 89 cents, or 0.89%, following a 1.58% loss in the previous session.

Gold prices held steady as traders assessed inflation risks and interest rate outlook after the US Federal Reserve's first rate hike since 2023.