Oil Prices Decline While Gold Prices Rise Globally

Oil prices fell on Thursday amid expectations that recent remarks by U.S. President Donald Trump regarding tariffs could impact global economic growth and reduce demand for this key energy source.اضافة اعلان

According to Bloomberg, Brent crude futures dropped by 22 cents, or 0.31%, to $69.97 per barrel.
West Texas Intermediate (WTI) crude declined by 27 cents, or 0.39%, to $68.11 per barrel.

Meanwhile, gold prices rose, supported by a slight decline in the U.S. dollar and bond yields, as investors closely monitor developments in trade negotiations.

Spot gold increased by 0.3% to $3,322.46 per ounce.
U.S. gold futures also rose 0.3% to $3,331 per ounce.

Among other precious metals:

Silver rose 0.2% to $36.41 per ounce.

Platinum fell 0.3% to $1,343.22.

Palladium edged up 0.1% to $1,106.25.

Prices received some support from a reported increase in U.S. crude oil inventories, even as gasoline and distillate stockpiles declined last week, according to data released Wednesday by the Energy Information Administration.

— (Petra)