Oil prices have declined for the second consecutive week, driven by eased geopolitical tensions and ongoing diplomatic talks between the United States and Iran. This de-escalation, particularly around the Strait of Hormuz, has helped reduce inflationary pressures and support gold’s rally, which reached record highs above $5,100 per ounce earlier this year. Prediction markets now indicate a reduced likelihood of oil hitting a new all-time high by the end of September.
Source: Read the original article
