Gold prices found a footing on Monday after a steep 3.2% decline in the previous session, as hawkish comments from Federal Reserve Chair Kevin Warsh revived expectations for further interest rate hikes. Despite the pullback, the precious metal remains on track for its strongest monthly performance since January.
Crude oil prices gained over 1.5% in early Asian trading after the U.S. military struck Iranian missile launchers, heightening fears of supply disruptions in the critical Strait of Hormuz waterway.
Brent crude surpassed $90 a barrel and WTI climbed after reports of a U.S. military strike on Iranian launchers near the critical Strait of Hormuz waterway, fueling concerns over potential supply disruptions.
The U.S. Department of Agriculture is reportedly halting two of its three research projects on the foodborne parasite cyclospora due to funding cuts, while the third faces disruption as its scientific team declines to relocate amid a major national outbreak.
President Trump announced via social media that oil secured through a new deal with Venezuela will be used to replenish the U.S. Strategic Petroleum Reserve, which currently sits at about 40% of its capacity.
A major rescue operation is underway in eastern Nepal to reach hundreds of workers trapped inside tunnels at several hydroelectric projects following severe monsoon-induced floods and landslides.
Crude oil futures edged lower as traders assessed reports of a U.S. deal to access Venezuelan oil reserves against ongoing uncertainty over the reopening of the Strait of Hormuz.
Gold prices were little changed on Friday as investors awaited a key address by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium for clues on the future path of U.S. interest rates.
Benchmark European gas prices are on track for a third consecutive weekly increase, supported by low storage levels, though prices eased on Friday from a five-month peak amid signs of diplomatic efforts to secure key shipping routes.
