Energy prices surge, stocks and gold fall amid escalation
Oil prices surged by about 5% after reported attacks on ships near the Strait of Hormuz raised fears of supply disruptions.
Brent crude futures rose 4.98%, while US West Texas Intermediate crude climbed 3.05%, reflecting heightened concerns over global energy flows linked to tensions involving Iran.
At the same time, spot gold fell 1.88% and silver dropped 3.05%, while US stock indices declined, pointing to broader market volatility.