• Price Change UP Icon Gold $2,231.00 +41.00
  • Price Change UP Icon Silver $24.95 +0.39
  • Price Change UP Icon Platinum $915.00 +11.00
  • Price Change UP Icon Palladium $1,026.00 +25.00
Geopolitical Uncertainty
August 9, 2023

Does the conflict in Iran present growing economic uncertainty?

Reuters, by Janet McBride in
Share On Social Media

“U.S. oil fell more than $1 on Tuesday as Britain and Iran said they were willing to use diplomacy to end a row over 15 British sailors and marines seized in the Gulf on March 23.

“We’re not looking for a confrontation over this and actually the most important thing is to get people back safe and sound. And if they want to resolve this in a diplomatic way the door is open,” British Prime Minister Tony Blair told a radio station in Scotland.

Investors interpreted the comments as a favorable response to apparently conciliatory remarks by Iran, the world’s fourth biggest oil exporter, late on Monday.

Ali Larijani, the secretary of Iran’s Supreme National Security Council, told Britain’s Channel 4 News Iran wanted to resolve the matter through diplomacy and without a trial.

U.S. crude was down 92 cents at $65.02 a barrel by 1256 GMT, having dipped as low as $64.73. London Brent was down 74 cents at $68.00. Brent, which is more sensitive to developments in the Middle East because of proximity, commanded a near record premium to U.S. oil at one point in March.

“Something will eventually have to give in the current crisis, and when it does, we could be in store for a rather sharp move in either direction,” said Edward Meir, an analyst at Man Financial Energy Group in London.”

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

Get Your Free Report
A Rising Storm
All form fields are required *
Thank You

Want your kit sooner?

Faster delivery
is available by phone.

800-444-8317

Download Your Report

Enter your phone number to be connected to a Monex Account Representative.

Thank You
Want your kit sooner?

Faster delivery is

available by phone.

800-444-8317
All form fields are required *
Embed Spot Prices!
Copy and Paste below code into your HEAD tag / before end tag of body to embed chart.
Copy and paste code below wherever you want your chart displayed.
Copied to clipboard
Embed This Chart!
Copy and Paste below code into your HEAD tag / before end tag of body to embed chart.
Copy and paste code below wherever you want your chart displayed.
Copied to clipboard
FREE REPORT OFFER
A Rising Storm
Thank You
Please check your email for a confirmation link and Free Report!
I agree to receive news and promotional material from this website and understand I can cancel at any time. Privacy Policy