Brent Crude Breaks Above $106 as Iran Seizes Ships in Strait of Hormuz

Brent crude prices extended their winning streak to five days, reaching $106.30 per barrel, while WTI hit $96.68 following social media posts from President Trump suggesting peace prospects with Iran remain distant. In broader markets, silver prices dropped over 2% to trade near $76.255 per ounce, and gold pared early gains amid reports of a potential Lebanon-Israel ceasefire extension. This cooling of regional tensions coincided with a slight increase in US jobless claims, which weighed on Treasury yields. Meanwhile, aluminium remained steady above $3,600 per ton despite broader risk aversion in emerging markets, where the Indonesian rupiah hit a record low of 17,315 per dollar. Investors are now balancing energy supply risks driven by geopolitical rhetoric against cooling US yields and shifting safe-haven demand.