Brent hits $72.69 amid global uncertainty

Crude oil market movements

Brent crude futures climbed to $72.69 per barrel, up about 2.6%, while West Texas Intermediate (WTI) crude reached $66.94 per barrel, marking a daily increase of roughly 2.7%. Both benchmarks are trading near their highest levels in seven months, driven by cautious sentiment after reports that a major diplomatic delegation left recent nuclear talks in Geneva dissatisfied. On a weekly basis, Brent is set for a gain of approximately 1.6%, and WTI for about 1.7%.

Gold extends rebound to $5,241

In metals markets, gold extended its rebound for a third consecutive session, trading at $5,241 per troy ounce, after earlier reaching around $5,225. Safe-haven demand continues to support the precious metal amid ongoing geopolitical friction and uncertainty over US trade policies.

Focus on upcoming OPEC+ meeting

Market attention now turns to Sunday’s OPEC+ meeting, where member nations will decide on future production policies amid global supply concerns and continued regional military deployments.