Washington aims to increase economic pressure on Tehran by sanctioning oil sales and freezing digital currency wallets.

Gold prices have fallen below $4,000 per ounce, while Brent crude oil has surpassed $80 following the US's reimposition of a blockade on Iranian seaports.

Despite escalating tensions in the Middle East, oil prices have only fluctuated by a few USD as the market has gradually adapted, supply has increased, and demand has decreased.

Societe Generale Bank suggests China acts as an "invisible hand" that could help rebalance the global oil market both during and after the conflict.

A peace agreement between the United States and Iran has propelled gold prices to 4,300 USD this morning, while crude oil has fallen over 4%.

Prospects of a US-Iran agreement pushed Brent crude oil prices to USD 87 per barrel, while global gold prices rose by nearly USD 8.

Expectations of a peace agreement between the US and Iran, which could lead to the reopening of the Strait of Hormuz, have caused Brent crude oil prices to experience their steepest decline since 2020.