Oil Prices Dip Amid Supply Concerns and Middle East Tensions

In late trading on Wednesday, West Texas Intermediate (WTI) crude fell to $94.06 a barrel, a drop of 1.03 points or 1.08%, while Brent crude slid 1.69 points or 1.59% to $104.37. The decline follows renewed worries about global oil supply and heightened tensions in the Middle East.

Gold rallied to $4,138.29 an ounce, up 32.96 points or 0.80%, and silver edged higher 0.37 points or 0.66% to $56.25. Copper fell 0.10 points or 1.53% to $6.56, aluminum slipped 27.65 points or 0.92% to $2,962.05, and natural gas edged up 0.055 points or 1.72% to $3.255.

Markets closed with mixed signals as investors weigh supply dynamics and geopolitical risks.