Oil prices jumped Thursday to their highest level in nearly seven months and investors snapped up safe havens like gold, as tensions between the United States and Iran continue to flare.
Brent crude, the global benchmark, rose 1.86%, to $71.66 per barrel. US crude rose 1.9%, to $66.43 per barrel. Oil prices extended gains after rising more than 4% Wednesday and posting their biggest single-day jump since October.
Gold, usually considered a haven amid uncertainty, rose 2% Wednesday and reclaimed $5,000 a troy ounce. Gold prices wavered and rose 0.2% Thursday.
US and Iranian envoys met in Geneva in recent days for negotiations