Brent Crude Oil Price Jumped Over Three Percent Following Continued Military Clashes Between United States and Islamic Republic of Iran

Following the continuation of military clashes between the United States and the Islamic Republic of Iran, on Monday, July 22, Brent crude oil prices jumped by more than 3 percent, while gold prices faced a steeper decline. According to intraday trading, after Donald Trump announced the reimposition of a naval blockade on Iran, the price of Brent crude rose to nearly $78 per barrel. At the same time, by 15:00 GMT, gold fell by nearly 3 percent to $4,005.59 per ounce. 2