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Brent Oil Surges Past $90 as US-Iran Tensions Threaten Hormuz Shipments

Oil prices jumped 3% on Monday, with Brent crude surpassing $90 a barrel. The surge follows expanded attacks between the US and Iran, which have curbed energy shipments through the Strait of Hormuz. These developments highlight how escalating geopolitical tensions are directly impacting global energy flows.

22 articles1 stories

Developing·6 days ago

Commodities

Silver Prices Slump Toward $57 Level Amid Middle East Geopolitical Tensions

Silver prices (XAG/USD) fell toward the $57.00 level on July 16, driven by ongoing geopolitical tensions in the Middle East. By July 20, spot silver rose 1.8% to $56.85 an ounce but faced strong resistance at the $57.50 level. Prices were further influenced by Brent crude climbing above $90 a barrel as the US-Iran conflict neared a broader regional war.

13 articles2 stories

XAGUSD

Developing·15 days ago

Commodities

US Strategic Petroleum Reserve Hits Lowest Level Since April 1983

The U.S. Strategic Petroleum Reserve (SPR) saw a consistent decline in crude oil stocks throughout July, starting with a 6.2 million barrel drop to 319.5 million barrels, the lowest level since April 1983. This downward trend continued in the following weeks with additional decreases of 3 million and 5.1 million barrels. By July 20, total stocks reached 311.4 million barrels, marking a significant reduction in the nation's strategic reserves.

7 articles3 stories