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Crude oil rises, precious metals fall, the U.S. may consider resuming military actions against Iran
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(Source: Caixin News)
Spot gold drops over 0.7%, falling below $4,700 per ounce during the trading session. Meanwhile, silver drops nearly 2%, at $84.60 per ounce.
On May 12, Brent crude oil futures rose by 2%, to $106.31 per barrel. Additionally, U.S. crude oil futures increased by over 2%, to $100.15 per barrel.
Furthermore, spot gold fell over 0.7%, breaking below $4,700 per ounce during the session. At the same time, silver declined nearly 2%, at $84.60 per ounce.
On the news front, according to CCTV News, on May 11, U.S. sources revealed that internal officials said that due to the slow progress of U.S.-Iran negotiations, the U.S. is now "more seriously considering" resuming military actions against Iran than in past weeks.
U.S. sources stated that there are differing opinions within the U.S. government regarding Iran. Some officials advocate for tough measures, including more targeted strikes to weaken Iran and pressure it to make concessions at the negotiating table; others prefer to give diplomatic negotiations more time.
On the 11th, the U.S. president held another meeting with the national security team to discuss subsequent plans regarding Iran. There are also reports that one of the options currently under consideration by the U.S. is to restart the so-called "Freedom Plan" to "escort" ships through the Strait of Hormuz; another option is to restart military actions against Iran.
Additionally, on May 12, local time, Iran’s Parliament National Security and Foreign Policy Committee spokesman Ebrahim Rezaei posted on social media that if Iran is attacked again, Iran’s response could be to increase the enrichment level of uranium to 90%. Rezaei said that this issue will be discussed in parliament.
Siemens Energy’s Chief Financial Officer stated that if oil prices remain around $105 per barrel, it is unlikely to have a significant impact on business; but if oil prices rise to $120 to $130 per barrel, the situation will change.