Oil Falls on Hopes of Higher Russian Supply; Gold Rises

Oil prices fell today (Tuesday) as traders weighed the risk of disruption to Persian Gulf energy supplies against the possibility of increased Russian diesel exports. The decline in oil was also supported by gold, as investors await US inflation data to assess the future path of interest rates at the US Federal Reserve.

The price of oil decreased today (Tuesday) because the traders, while assessing the risks of disruption in the energy supply of the Persian Gulf, considered the possibility of an increase in the supply of Russian diesel; At the same time, falling oil prices supported gold prices, while investors await the release of US inflation data to assess the future path of interest rates from the Federal Reserve.