Oil prices rise and gold hits two-month high after Trump makes new deal demands on Iran - business live
Oil prices have risen to their highest levels in over a week following Donald Trump's new demands for compensation from Iran, which have stalled potential diplomatic progress. Meanwhile, gold prices dipped after reaching a two-month high as investors await US inflation data.
Why it matters
Geopolitical tensions in the Middle East continue to drive volatility in global energy markets, influencing inflation expectations and investor behavior.
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Oi prices have risen slightly this morning to the highest levels in more than a week, as hopes receded of a deal between the US and Iran to end the war and reopen the strait of Hormuz, after Donald Trump demanded compensation for damage incurred by the US.
Brent crude futures and US crude futures both rose about 5% on Monday after the US president’s responded to Iran’s demands for compensation and an end to sanctions and military threats, before it will restart talks with the US. Those conditions largely reflect the terms of the memorandum of understanding signed by both sides in June, which has since broken down.
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