Oil prices declined on Monday as concerns over global supply disruptions continued to ease. Brent crude fell 1.9% to $79.04 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped to $76.53 per barrel.
Investors are closely monitoring global economic developments and their impact on energy supply and demand dynamics.
Meanwhile, gold prices recovered from their lowest levels in more than a week, supported by weaker oil prices. Spot gold rose 0.9% to $4,197.41 per ounce, rebounding after touching its lowest level since June 11 on Friday.
However, U.S. gold futures for August delivery edged down 0.7% to $4,215.90 per ounce.
Investors are closely monitoring global economic developments and their impact on energy supply and demand dynamics.
Meanwhile, gold prices recovered from their lowest levels in more than a week, supported by weaker oil prices. Spot gold rose 0.9% to $4,197.41 per ounce, rebounding after touching its lowest level since June 11 on Friday.
However, U.S. gold futures for August delivery edged down 0.7% to $4,215.90 per ounce.
