Quick Facts:
- WTI crude oil price reaches 4-month high of $65.50 per barrel
- Silver price reaches new 13-year high of $24.60 per ounce
- UK inflation rate jumps to 2.5% year-over-year
WTI Crude Oil Touches 4-Month High, Markets React
As the world grapples with the evolving situation in the Middle East, the global economy remains shrouded in uncertainty.
WTI Crude Oil Nears 4-Month High
West Texas Intermediate (WTI) crude oil prices have been on a meteoric rise, with prices reaching their highest level in four months. As of today, WTI crude oil is trading at $65.50 per barrel, representing a 2.5% gain in the past 24 hours.
Iranian Missile Fire on Israel Remains Weak
Yesterday’s Iranian missile attack on Israel, which targeted major military sites and infrastructure, has had a limited impact on the global market.
Israel Continues to Press Iran, Issues Evacuation Order for Tehran Airport District
In a surprise move, Israel issued an evacuation order for the Tehran Airport District, citing security concerns.
Silver Hits New 13-Year High
Silver prices have been on an impressive run, reaching new highs not seen since 2008. As of today, silver prices are trading at $24.60 per ounce, representing a 3.5% gain in the past 24 hours.
UK Inflation Higher Than Expected
In a surprise move, UK inflation figures for May came in higher than expected, reaching 2.5% year-on-year.
Markets Await Fed Policy Meeting
In the United States, markets are anticipating a highly anticipated Federal Reserve policy meeting, which is set to take place next week.
