Oil, gold and silver have followed markedly different trajectories over the past six months, as geopolitical tensions, changing US interest-rate expectations reshape global commodity markets. Oil has responded to geopolitical developments, while gold has been driven primarily by monetary policy and silver by both rates and industrial demand, said an expert.
Oil prices fell about 1% on Friday, extending losses for a third consecutive session, even as Saudi Arabia and Yemen's Iran-backed Houthis exchanged fresh strikes and a tanker was hit in the Strait of Hormuz, with markets focusing instead on efforts to restore Saudi oil flows and alternative routes for Gulf exports.
Norwegian oil and gas operator DNO ASA has announced that the boards of DNO, DNO Bidco AS and UK-based Capricorn Energy have agreed to revise the terms of its proposed acquisition of Capricorn, with shareholders now set to receive the full acquisition value in cash.
Oil prices held around $108 a barrel on Wednesday, near a four-month high, as markets grappled with mounting concerns over global energy supplies following the shutdown of Saudi Arabia's East-West oil pipeline and continuing attacks on key oil and shipping routes in the Middle East.
Global oil markets face a fresh supply shock after Saudi Arabia shut down its 1,200-km East-West Pipeline following multiple drone attacks, as continuing attacks on shipping in the Strait of Hormuz and a widening Houthi offensive in the Red Sea threaten to disrupt vital energy routes on both sides of the Arabian Peninsula.
Oil prices surged to their highest levels since May on Friday as the widening US-Iran conflict and a rapid Houthi advance in Yemen raised fears of a prolonged disruption to global crude supplies through the two strategic waterways of Hormuz and Bab al-Mandeb.
Oil prices surged above $100 a barrel on Thursday as the escalating US-Iran conflict intensified fears of a prolonged disruption to crude supplies, with attacks on tankers and a sharp decline in shipping through the Strait of Hormuz adding to market anxiety.
Oil prices remained under pressure on Tuesday after suffering steep losses over the previous two sessions, as growing optimism over a potential breakthrough in US-Iran diplomacy raised hopes that the Strait of Hormuz could soon be reopened to normal shipping, easing fears of disruptions to global crude supplies.
Saudi Aramco reported a strong financial performance for the first half of 2026, posting adjusted net income of $67.2 billion, as the world's largest oil producer maintained crude supplies despite unprecedented disruptions to shipping through the Strait of Hormuz.
Oil prices recovered on Tuesday after suffering their steepest one-day decline in weeks, as persistent concerns over potential supply disruptions in the Middle East outweighed optimism that diplomatic efforts could quickly end the five-month-old conflict between the United States and Iran.
