West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $97.85 during the early European trading hours on Monday. The WTI price climbs as the US President Donald Trump administration weighs military strikes on OPEC member Iran’s key oil export facilities on Kharg Island.

Silver price (XAG/USD) is down 0.5% to near $80.00 in the late Asian trade on Monday. The white metal revisits the three-week low of around $78.00 during the day amid firm expectations that the Federal Reserve (Fed) will maintain a status quo in the monetary policy announcement on Wednesday.

Iran’s Foreign Minister, Abbas Araghchi, claimed Israeli strikes on fuel depots across Tehran amount to "ecocide," citing the impact on the health of the Iranian capital’s residents, the Guardian reported on Monday. He added that Israel must be punished for its war crimes.

Gold prices remained broadly unchanged in India on Monday, according to data compiled by FXStreet.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, retreats after touching a near 10-month high of 100.54 in the previous session, trading around 100.20 during Asian hours on Monday.

West Texas Intermediate (WTI) Crude Oil prices retreated from the vicinity of the $100.00 psychological mark, or a one-week high touched during the Asian session on Monday.

Silver (XAG/USD) stages a modest recovery from a nearly two-week low, around the $78.35 region touched during the Asian session on Monday, and climbs back above the $81.00 mark in the last hour.

European Union (EU) foreign ministers are meeting in Brussels to debate a potential naval response to the effective closure of the Strait of Hormuz. 

Gold price (XAU/USD) tumbles to around $4,980 during the early Asian session on Monday. The precious metal faces some selling pressure despite intense geopolitical conflict in the Middle East. Traders will closely monitor the developments surrounding the United States (US)-Israel war with Iran. 

Crude Oil Prices are roughly 3% up at the weekly opening, with the barrel of West Texas Intermediate (WTI) crude hovering around $99.

US energy secretary Chris Wright said that he expects the United States (US)–Israel war with Iran to end within “the next few weeks,” with oil supplies rebounding and energy costs declining afterwards, the Guardian reported on Sunday.

South Korea’s presidential office said in a statement on Sunday, “we will communicate closely with the US regarding this matter and make a decision after careful review.”

Gold price loses some 0.70% on Friday. It seems poised to end the week with losses of more than 2% as the Greenback remains the choice for safety amid the Middle East conflict, which has increased investors' angst over a reacceleration of inflation.

United States Baker Hughes US Oil Rig Count increased to 412 from previous 411

West Texas Intermediate (WTI) US Oil trades around $95.30 on Friday at the time of writing, virtually unchanged for the day, as markets balance supply relief measures with escalating geopolitical risks in the Middle East.

Commerzbank’s commodity team, including Barbara Lambrecht and colleagues, highlights that the Iran war has triggered the largest oil supply outages ever, with the IEA estimating losses of at least 8 million barrels per day.

Commerzbank analysts highlight that Aluminium has gained around 10% since early March as the Iran conflict amplifies supply concerns, especially given the Gulf’s producer role and China’s production cap.

Gold (XAU/USD) struggles to gain traction on Friday and remains on course for a second weekly decline as surging Oil prices stemming from the ongoing US-Iran war fuel inflation concerns and trigger a hawkish repricing of global interest-rate expectations, weighing on the non-yielding metal.

Commerzbank notes that the Strait of Hormuz closure has also halted Qatari LNG shipments, normally one-fifth of global supply, driving TTF natural gas to almost EUR 70/MWh.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $82.37 per troy ounce, down 1.72% from the $83.82 it cost on Thursday.

BNY’s Bob Savage argues Oil markets will be driven by tanker availability, refining capacity and conflict duration, with crude above $80/bbl central to inflation and demand destruction risks.

Gold prices rose in India on Friday, according to data compiled by FXStreet.

Gold (XAU/USD) gains some positive traction during the Asian session on Friday and recovers a part of its losses recorded over the past two days.

Silver (XAG/USD) gains some positive traction during the Asian session on Friday and climbs back above the $85.00 mark in the last hour. The white metal, for now, seems to have snapped a two-day losing streak, though it remains on track to end the week on a flattish note.

 West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.75 during the early Asian trading hours on Friday. The WTI price surges due to the effective closure of the Strait of Hormuz amid conflict involving the United States (US), Israel, and Iran.

Iran’s new supreme leader, Mojtaba Khamenei, said in his first public statement since being appointed that the closure of the Strait of Hormuz maritime passage should be continued as a “tool to pressure the enemy,” CNBC reported on Thursday. 

Gold price (XAU/USD) faces some selling pressure near $5,090 during the early Asian session on Friday. The precious metal extends the decline amid a stronger US Dollar (USD) and higher Treasury yields.

West Texas Intermediate (WTI) crude Oil continues to experience extreme volatility, with prices rising more than 7.5% on Thursday as traders grow increasingly concerned about prolonged supply disruptions through the Strait of Hormuz amid the ongoing US-Iran war.

TD Securities strategist Pooja Kumra highlights that markets are focused on the Strait of Hormuz and Iran conflict scenarios, with prediction markets assigning only modest odds to a ceasefire by April 2026.

The new Supreme Leader of Iran, Mojtaba Khamenei, issued his first statement, which was shared on Iranian TV. Khamenei said that attacks on neighboring bases will inevitably continue and that Iran will not refrain from avenging the blood of its martyrs.