The failure of the US-Iran talks and the increasing tension around the Strait of Hormuz have caused serious fluctuations in world markets.
Medianews.az reports that the possible risk of blockade in the Strait of Hormuz has sharply increased oil prices.
The price of Brent crude oil per barrel rose by more than 7 percent at the beginning of the week, surpassing $102, while WTI approached $104.
The US plan for a naval blockade against Iranian ports and Tehran's harsh responses have strengthened "worst-case scenario" assessments in energy markets.
Gold prices have been under pressure due to expectations that the rise in oil prices could cause inflation and delay interest rate cuts by the US Federal Reserve (FED). The ounce of gold has declined.
Prices in the European gas market have also increased, as risks related to energy supply have risen.
Analysts state that the future direction of the markets will largely depend on the situation in the Strait of Hormuz and international diplomatic news.
Medianews.az