13 Jul , 2026 By : Debdeep Gupta
Commodity markets began the week on a mixed note on July 13, with crude oil prices rallying sharply amid escalating geopolitical tensions in the Middle East, while precious metals retreated as a stronger US dollar and renewed inflation concerns dampened sentiment.
Oil: Crude prices jumped more than 3?ter Iran expanded its strikes on Gulf states following US attacks, raising concerns over potential disruptions to energy shipments through the strategic Strait of Hormuz. Brent crude rose 3.08% to $78.35 a barrel, while WTI crude gained 3.09% to $73.62 a barrel.
Precious Metals: Gold declined as the latest exchange of strikes between the US and Iran boosted energy prices and revived concerns that higher inflation could delay interest-rate cuts.
Silver fell 1.8% to $58.82 an ounce, while platinum and palladium also traded lower.
The US dollar strengthened against most major currencies as investors sought safety amid geopolitical uncertainty and rising expectations that central banks may need to keep interest rates higher for longer.
The dollar gained 0.1% against the Japanese yen to 161.92, while the euro eased 0.1% to $1.1403 and the British pound slipped 0.1% to $1.3383.
The Australian dollar and New Zealand dollar also weakened 0.1%, trading at $0.6942 and $0.5757, respectively.
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