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US-Iran Tensions Fuel Oil Surge to $90 Amid Gold Decline

Guavy AI Editorial Team
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Oil Gold
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The US-Iran military conflict escalated over the weekend, sending oil prices soaring and gold plummeting. Brent crude broke back above $90 on Monday, while gold prices dropped below $4,400 intraday.

The conflict began with a US military strike against Iran's Larak Island in the Strait of Hormuz, targeting two rocket launchers. The US Central Command stated that Iran's Islamic Revolutionary Guard Corps was preparing to use rockets and naval mines to threaten shipping in the strait.

Iran retaliated by launching ballistic missiles at two US military bases in Jordan. However, neither the US military nor Iranian authorities have confirmed any strike on Kharg Island, which was allegedly under attack according to US President Trump's social media statement.

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