Middle East Tensions Spike Oil Prices, Drive Investors to Gold and Bonds

Sydney. Rising military tensions in the Middle East caused a sharp increase in global crude oil prices on Monday, while investors were drawn to safe-haven assets like gold and bonds. This escalation, coming amid existing market apprehension due to Artificial Intelligence (AI) and banking sector fears, has created further pressure.

Brent crude oil prices in the international market rose by 9 percent to $79.42 per barrel, while US crude oil increased by 8.6 percent to $72.61. Similarly, the price of gold increased by 1.4 percent to $5,350 per ounce.