🔺Oil falls on hopes of a deal; gold rises

▪The price of oil on Monday fell by more than four dollars per barrel after U.S. President Donald Trump halted a fresh attack on the Islamic Republic and said that talks would begin later on the same day.

▪Brent oil futures fell by 4.64% to $83.85, and West Texas Intermediate crude fell by 4.74% to $80.66.

▪Both benchmarks had risen by more than 20% last month after the resumption of fighting and the Islamic Revolutionary Guard Corps’ attack on several oil tankers around the coast of Oman led shipping companies to refrain from entering the Persian Gulf.

▪In Monday trading, spot gold rose by four-tenths of a percent to reach $4,055 per ounce.