Commodity markets traded mixed on October 21, with oil prices edging higher amid concerns over potential supply disruptions in the Middle East, while gold held its decline.
Oil prices edged higher on Wednesday on Middle East supply concerns, with traders wary of Red Sea shipping risks and threats to oil infrastructure in Saudi Arabia.
Brent crude futures rose 85 cents, or 0.78%, to $109.64 per barrel. US West Texas Intermediate (WTI) crude rose 76 cents, or 0.78%, to $98.58 per barrel.
Gold held a decline as conflicting signals on efforts to end the Iran war clouded the outlook for inflation and the Federal Reserve’s path for interest rates.
Bullion was trading at around $4,115 an ounce, after falling more than 1% since the start of the week.