Commodity markets traded higher on October 8, with oil prices rising amid persistent Middle East supply concerns, while gold edged higher as the dollar eased from an 18-month peak.
Oil prices rose on Thursday on persistent worries about supply from the key Middle East producing region amid an increase in attacks on shipping in the Gulf and the Strait of Hormuz.
Brent crude futures rose $1.33, or 1.33%, at $101.53 a barrel. US West Texas Intermediate (WTI) crude futures gained $1.11, or 1.26%, to $89.39.
Gold prices edged higher on Thursday as the dollar eased from an 18-month peak, helping bullion recover from a two-month low, while traders weighed the prospect of another US Federal Reserve rate hike this year.
Spot gold was up 0.5% at $4,132.66 per ounce. On Wednesday, bullion prices touched their lowest level since August 5 as a firmer dollar and higher US Treasury yields weighed on the market.