surging

Why are oil prices surging above $104? Hormuz attacks and Hurricane Isaias raise supply fears

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Oil prices rise above $104 as Hormuz attacks and Hurricane Isaias fuel supply fears. (Pexel/Representative image) (Pexel)

Oil prices jumped sharply on Thursday as fears grew about global oil supplies. The main concern is that attacks on oil tankers in the Strait of Hormuz are reducing the number of ships using the important waterway. The rise in attacks has increased worries about whether enough oil can reach global markets. Oil prices rise … Read more

Gold up 15%, silver 19% in August: Why are precious metals prices surging?

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Gold is up 15% and silver 19% in August. (Reuters)

Gold and silver prices are ending August with a sharp rally. Gold prices have risen about 15% this month, while silver prices have jumped around 19%. The rally has added huge value to the precious metals market. Together, gold and silver have gained nearly $5 trillion in market value in August, based on an analysis … Read more