London, Sept 08 (SANA) Oil prices continued to rise on Tuesday as growing risks of prolonged tensions in the Middle East raised concerns over possible disruptions to crude supplies.
Reuters reported that Brent crude futures rose 34 cents, or 0.35 percent, to $97.34 per barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.15, or 1.26 percent, to $92.63 per barrel.
The gains came after Iran threatened to respond to any new U.S. attacks targeting its assets, increasing concerns over potential disruptions to oil supplies.
Brent crude reached its highest level since July in the previous session as traders continued to price in a risk premium amid escalating tensions around the Strait of Hormuz, a key route for global crude oil shipments.
Gold prices, meanwhile, rose globally on Tuesday as the dollar declined and markets focused on upcoming inflation data that could help shape expectations for the U.S. Federal Reserve’s next monetary policy decision.
Reuters reported that spot gold rose 0.3 percent to $4,418.79 per ounce, while U.S. gold futures for December delivery reached $4,464.80 per ounce.
Gold prices fell on Sept. 4 after data showed a sharp acceleration in U.S. job growth in August, while the unemployment rate remained steady at 4.1 percent.
T.S /Ruaa
