Oil Surges to $74 as Iran War Restarts, Gold Falls
Crude oil jumped to its highest level in weeks on Wednesday after President Trump declared the US-Iran ceasefire "over" and US forces carried out a second consecutive day of strikes on Iranian targets. WTI futures touched $74.82 a barrel, with Brent closing in on $78. Gold, which many investors expected to rally in a war scare, did the opposite: it fell 0.49% to $4,055 an ounce as a hawkish signal from the Federal Reserve overpowered the safe-haven trade. Key Takeaways WTI crude futures surged to approximately $74.82/bbl on July 9, up 3-5% over two sessions, as renewed US strikes on Iran raised Strait of Hormuz supply risk. Brent crude reached the $77-78/bbl range, pushing past the EIA's now…
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