Commodity markets traded mixed on October 16, as oil prices edged lower amid concerns over Middle East tensions, meanwhile, gold prices steadied after posting their biggest gain in more than two weeks on Thursday.
Oil prices edged down on Friday morning as investors weighed Middle East risks and possible US steps to ease restrictions on the world’s "shadow fleet" of tankers.
Brent crude futures fell 41 cents, or 0.39%, to $105.51 a barrel, while US West Texas Intermediate crude futures CLc1 were down 54 cents, or 0.55%, to $97.43.
Gold steadied after rising the most in more than two weeks on Thursday as a stock selloff drove investors into bonds, pushing down Treasury yields.
Bullion traded near $4,155 an ounce after climbing 1.6% in the previous session.