US-Iran Conflict Drives Oil Prices to Six-Week High

The escalating US-Iran conflict has pushed international oil prices to a six-week high, with Brent crude nearing $100 and WTI crude reaching an intraday high of $92.17.

The U.S.-Iran military conflict has continued to spread to energy facilities and tanker transit, dropping vessel traffic through the Strait of Hormuz to its lowest level since May and driving markets to price in higher supply disruption risks.

In precious metals, gold remained under pressure, falling 0.56% to $4,406.05, as persistent gains in oil prices further exacerbated inflation fears.