Commodities Rally amid Iran's Retaliation on Sanctions
SylviaHunt30Commodities rallied as driven by strong US economic data and escalated tensions between Iran and the West. The front-month contract for WTI crude oil jumped to 103.16, the highest level since May 2011, before settling at 102.96, up +4.18%. The equivalent Brent crude contract also soared +4.42% to end the day a 112.13. Gold rose further as the US dollar weakened and geopolitical tensions intensified. The benchmark Comex contract climbed to a 4-day high of 1608.7 before closing at 1600.5, up +2.15%.
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Commodities Rally amid Iran's Retaliation on Sanctions
