Commodities Wrap: Oil Surges While Gold Dips on July 13
WTI crude oil jumped 4.4% on Sunday to $74.55 per barrel, with Brent pushing to $79.30, as the Strait of Hormuz crisis entered a new and more volatile phase. Gold fell 1.49% to $4,059 per ounce and silver dropped 2.92% to $58.10. When oil spikes on a geopolitical shock and gold falls at the same time, the market is telling you something: this is a supply-disruption trade, not a safe-haven trade. Key Takeaways WTI crude surged 4.4% to $74.55/bbl and Brent reached $79.30/bbl after Iran's new supreme leader vowed to maintain the Hormuz blockade (OilPrice.com, July 13, 2026). Gold fell 1.49% to $4,059/oz and silver dropped 2.92% to $58.10/oz as traders rotated into energy rather than safe-haven…
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