Singapore/ London, June 5 (SANA) Global oil and precious metals markets moved in opposite directions on Friday, with crude prices edging higher on geopolitical risks and supply concerns, while gold and other metals declined under pressure from a stronger U.S. dollar and shifting expectations over U.S. interest rates.
Brent crude rose 0.35% to $95.36 per barrel, while West Texas Intermediate gained to $93.06, supported by ongoing uncertainty in the Middle East and concerns over energy supply disruptions.
Market sentiment was affected by reports of a suspension of loading operations at Oman’s Fahal Port following an explosion near its facilities, in an incident suspected to involve a drone attack. The development added to concerns over the security of key energy infrastructure.
Both oil benchmarks are now on track to record their first weekly gains in three weeks, as geopolitical tensions persist and diplomatic efforts to ease regional conflicts remain limited. Expectations of tighter global inventories in the coming months also supported prices.
In contrast, gold prices fell 0.3% to $4,462.22 per ounce, while U.S. gold futures slipped to $4,489, extending losses toward a weekly decline.
Other precious metals also weakened, with silver, platinum and palladium all posting losses amid dollar strength and uncertainty surrounding U.S. monetary policy. Earlier volatility in the week saw sharp price swings as markets balanced geopolitical risks against interest rate expectations.
kA.RK
