Free fall of oil and gold in the world market
According to Webangah News quoted by Mehr News Agency According to the Reuters news agency, hopes for a ceasefire in Lebanon and the reduction of worries about the supply of oil in the Middle East caused the price of black gold to take a downward trend.
Accordingly, North Sea Brent oil decreased by 3 dollars and 75 cents, 77 Dollars and 18 cents were traded per barrel. The price of Texas WestIntermediate oil also decreased by 3 dollars and 57 cents to 73 dollars. and reached 57 cents per barrel.
The drop of more than 4% in oil prices in today’s trading comes after last week Brent had experienced more than 8% growth. Market analysts say that now hopes for a ceasefire in the Middle East have increased and this has reduced concerns about the spread of the conflict and the impact on the supply of black gold from the Persian Gulf.
In the precious metals market, the price of gold experienced the biggest drop in the last month. Gold was traded at 2,614 dollars per ounce with a decrease of more than 1%.
