Oil Prices Surge, Gold Prices Decline

Deep News08:02

Concerns over escalating tensions in the Middle East fueled a significant rise in international oil prices on June 1.

At the close of trading, the price for July delivery of West Texas Intermediate crude on the New York Mercantile Exchange settled at $92.16 per barrel, marking an increase of 5.49%.

The price for August delivery of Brent crude on the London market finished at $94.98 per barrel, rising by 4.24%.

Also on June 1, international prices for gold and silver fell.

The August gold futures contract on the New York Mercantile Exchange closed at $4,506.30 per ounce, down 1.89%.

The July silver futures contract ended at $75.254 per ounce, declining by 0.82%.

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