Commodities
Oil Prices Soar Past $91/Barrel Amid US-Iran Tensions
The price of Brent crude oil has surged past $91 per barrel, while gold prices have jumped sharply. At 7:30 AM on August 18th (Vietnam time), Brent crude oil rose to $91.1 per barrel, a significant increase from the close of trading on August 17, when it reached $90.87 per barrel.
The sharp rise in oil prices is attributed to the lack of progress in US-Iran negotiations, as well as heightened tensions in the Middle East and concerns about potential disruptions to global oil supplies through the Strait of Hormuz.
Gold prices have also seen a significant increase, rising by $52 per ounce to $4,429 per ounce. This represents an approximate 9% gain since the beginning of August.