Middle East Tensions Escalate, Oil Prices Surge While Gold and Silver Decline

Deep News
9 hours ago

Yemen's Houthi armed forces claimed to have attacked Saudi military targets, escalating geopolitical tensions in the Middle East. Combined with limited progress in US-Iran diplomatic negotiations, the market is concerned about potential disruptions to crude oil supply, driving international oil prices higher on the 24th.

At the close of trading that day, the November delivery light crude oil futures price on the New York Mercantile Exchange settled at $94.61 per barrel, up 2.66%. The November delivery London Brent crude oil futures price settled at $106.60 per barrel, up 3.41%.

Affected by rising US Treasury yields, a strengthening US dollar, and other factors, international gold and silver prices fell on the 24th.

At the close of trading that day, the December delivery gold futures price on the New York Mercantile Exchange was reported at $4,298 per ounce, down 0.47%. The December delivery silver futures price was reported at $64.002 per ounce, down 1.48%.

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