The prices of oil futures continued to rise on Monday after the White House expressed its concerns that Iran could attack Israel and that it could happen this week, fueling worries about the export of the commodity from the Middle East. West Texas Intermediate (WTI) for September’s settlements skyrocketed by 3.51% at 1:54 pm ET to sell for $79.48 per barrel. At that time, Brent for October’s deliveries gained 2.71% to go for $81.82 per barrel.
Gold up by 1.6% on Middle East concerns
The prices of precious metals rose on Monday after Israel and the United States voiced concerns that Iran could attack the former country, seemingly turning traders to safer investments such as those in gold. Gold increased by 1.61% at 2:23 pm ET to sell for $2,469.61 per ounce. At the same minute, silver grew by 1.87% to go for $27.96 per ounce. Platinum went up by 1.77% to sell for $942.27 per ounce. Palladium advanced by 1.60%, going for $911.52 per ounce.