During the final trading session this week, experts noted a decline in the interest of market participants in oil assets. Several factors could influence this trend, especially of a political nature. First of all, we are talking about the unpredictability of the situation in the Strait of Hormuz. Also, the market is alarmed by the fact that there are serious risks for the entire British transport fleet, and especially for supertankers. Attacks on ships transporting oil for British companies are not able to positively affect the dynamics of quotations.

As a result, by the close of trading on the European trading floors, the September crude oil futures quotes of the benchmark Brent crude dropped to $66.86. Trading on the New York Mercantile Exchange was marked by the fact that August futures for American oil WTI reached the level of $60.25 per barrel. According to analysts, in the near future quotes for WTI oil will fluctuate within the range of $57.31 – $60.92.

Brent Crude (ICE)

WTI Crude Oil (Nymex)

Under these conditions, no one was surprised at the surge in investor interest in safer assets, especially in gold. At the moment, the cost of an ounce of gold has reached $1.408.95 (+ 0.15% or 2.25 p.). Silver is trading at $15.152 per troy ounce (+ 0.04% or 0.006 p.). The USD index, which shows the strength of the US dollar relative to the weighted average trading basket of six major world currencies, fell by 0.04% or 0.036 p., and is trading at around $96.630.

EUR to USD Exchange Rate

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