Oil edges higher on Middle East supply risks while gold holds its decline
According to Moneycontrol, Brent rose 0.78% to $109.64 a barrel on fears of supply disruption in the Middle East; gold stays slightly lower.
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what happened
Moneycontrol reports that oil prices inched up on Wednesday. Traders are watching Red Sea shipping risks and threats to Saudi oil infrastructure. Brent gained 85 cents, or 0.78%, to $109.64 a barrel, while WTI added 76 cents to $98.58.
Gold stayed under pressure as mixed signals on ending the Iran war muddied the outlook for inflation and the Federal Reserve's rate path. Bullion traded near $4,115 an ounce, down more than 1% since the start of the week. Silver slipped 0.1% to $57.88.
why it matters
Higher crude feeds into fuel costs and inflation expectations, which matter for Fed policy. The dollar index held at 101.78 after a 0.2% drop on Tuesday, as lower Treasury yields and softer oil reduced the currency's appeal.
market impact
Oil: supply risks support Brent and WTI; gold and the dollar depend on Fed rate signals
tags
instruments
sources
- Commodity Corner: Oil prices edge higher on Middle East supply risks; gold holds decline — moneycontrol.com, 21 October 2026 at 02:07 UTC
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