The rising trend of oil prices / jump in the price of gold in the precious metals market
According to Webangah News quoted by Mehr News Agency quoted Trading Economics , the permission of the US and its partners to Ukraine to use long-range weapons deep in Russian territory is now one of the Concerns for the escalation of tensions and its effect on the supply of oil to the market have become. Analysts believe that if Kiev uses these weapons to target Russian oil production, this issue will have a serious impact on the global price of oil.
Accordingly, the price of oil in today’s transactions of the energy market witnessed an upward trend once again. Brent North Sea oil was trading at $74 and 57 cents per barrel, up 34 cents. The price of West Texas Intermediate oil also increased by the same amount, to 71 dollars and 5 cents. reached in each barrel.
Now the energy market is subject to the political tensions in the Middle East due to the war in Gaza and Lebanon, as well as the war in Eastern Europe between Ukraine and Russia.
In the precious metals market, each ounce of gold was traded at $2,678 with a jump of 1.15%. Silver, with a slight decrease, reached 30 dollars and 85 cents per ounce.
