Dubai: (RightNow) Rising tensions between the US and Iran in the Middle East have led to a 3% increase in global crude oil prices. Following signals from the US Federal Reserve to raise interest rates, gold prices have decreased.

In the global market, Brent crude oil surpassed $90 per barrel. Brent crude futures rose by $2.77 or 3.14%, reaching $90.87 per barrel, the highest level since June 11.

US West Texas Intermediate crude oil also increased by $2.35 or 2.85%, trading at $84.84 per barrel. WTI prices saw a 15.5% increase last week, marking the largest rise since March.

After the Federal Reserve’s interest rate hike signals, gold prices fell in the global market on Monday. Spot gold decreased by 0.4%, reaching $4,000.55 per ounce.

It is noteworthy that US gold futures also dropped by 0.3%, settling at $4,005.9 per ounce. Among other metals, silver prices rose by 0.9%, reaching $56.42 per ounce.