Oil and precious metal prices rising

The price of Brent crude oil on the ICE exchange rose 12.2% at the start of the trading week amid Middle East escalation, trading data has shown.

At 11:02 p.m. GMT, May futures exceeded $81 per barrel for the first time since June 23, 2025, trading at $81.79 (+12.24%). By 11:50 p.m., growth slowed to $78.88 (+8.25%).

West Texas Intermediate (WTI), the U.S. crude oil benchmark, is trading around $70.65 during the early European trading hours on Friday. 

Gold and silver prices rose also on Monday. Spot gold increased by 2.0%, reaching $5,384.46 per ounce, while spot silver climbed 2.4%, priced at $96.05 per ounce.

On February 28, the U.S. and Israel launched a military operation against Iran. Major Iranian cities, including Tehran, have been hit. The White House justified the attack by citing alleged missile and nuclear threats from Iran. The Islamic Revolutionary Guard Corps (IRGC), the Iranian Armed Forces’ elite unit, announced a large-scale retaliatory operation. Iran’s Supreme Leader Ali Khamenei and some other key leaders of the Islamic Republic were killed in the joint U.S.-Israeli attack, and the country declared a 40-day mourning.