Oil Market Dynamics Oil prices closed higher on September 4, with Brent crude futures rising 15 cents, or 0.2%, to $95.67 a barrel, and U.S. West Texas Intermediate (WTI) climbing 26 cents, or 0.3%, to $91.56. The week‑to‑week movement shows a 7.1% gain for Brent and a 9.8% rise for WTI, positioning both benchmarks for their steepest weekly gains since the week ended July 20. Rising tensions and renewed U.S.-Iran hostilities have intensified concerns over Middle East supply risks, driving demand for crude and pushing prices upward.
Gold and Currency Outlook Gold remained largely unchanged on Friday, with spot prices holding at $4,477.10 per ounce, and U.S. gold futures for December delivery slipping 0.4% to $4,522.60. The metal is set for a modest weekly gain as traders anticipate the highly awaited U.S. payrolls data, which could provide clues on the Federal Reserve’s next interest‑rate decision. Silver edged up 0.1% to $66.90 an ounce, while platinum and palladium were little changed.
The dollar index, a gauge of the greenback against a basket of currencies, dipped 0.05% to 99.54. The euro edged up 0.02% to $1.1589, and the yen strengthened 0.07% to 158.59 per dollar, following a 0.9% surge in the prior session. These movements underscore the market’s sensitivity to global geopolitical developments and U.S. economic indicators.