Brent rises to $72.69 per barrel as escalating geopolitical tensions and diplomatic uncertainty inject a fresh risk premium into global energy markets, while gold climbs to $5,241 per troy ounce amid sustained safe-haven demand.
According to the latest market data, Brent crude futures advanced 2.6 percent to $72.69 per barrel. US benchmark West Texas Intermediate crude also gained momentum, rising 2.7 percent to $66.94 per barrel. Both benchmarks are trading near their highest levels in seven months, reflecting tightening sentiment in global oil markets.
The rally follows reports that a key diplomatic delegation left recent nuclear discussions in Geneva dissatisfied with the pace of progress, amplifying fears of prolonged geopolitical instability. Additional signals, including authorisation for non-emergency personnel to depart from select regional missions, further reinforced investor caution and heightened perceptions of supply risk.
On a weekly basis, Brent is on track for a gain of roughly 1.6 percent, while WTI is approaching a 1.7 percent weekly rise. Market participants are increasingly pricing in the possibility of supply disruptions should tensions escalate further in energy-sensitive regions.
In the metals market, gold extended its rebound for a third consecutive session, reaching $5,241 per troy ounce at the time of writing after touching around $5,225 earlier in the day. The surge reflects continued appetite for defensive assets as investors navigate geopolitical friction and uncertainty surrounding US trade policy.
The strength in bullion underscores broader risk aversion across asset classes, with traders rotating into traditional safe havens amid volatile headlines and policy ambiguity.
Attention now turns to the upcoming OPEC+ meeting on Sunday, where member nations are expected to assess output strategy against a backdrop of supply concerns, fluctuating demand projections, and persistent military deployments in key regions.
Energy markets remain highly sensitive to geopolitical developments, and analysts suggest that price volatility may persist in the near term as diplomatic efforts and production decisions shape the global supply outlook.
