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Oil Prices Surge Amid Rising US-Iran Tensions, Gold Hits $5,000

KVIA•Thursday, February 19, 2026 at 5:48 PM•CNN Newsource

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AI Summary

On Thursday, oil prices reached their highest point in nearly seven months, driven by escalating tensions between the United States and Iran. Brent crude rose by 1.6% to $71.49 per barrel, while U.S. crude increased by 1.74% to $66.18 per barrel. Concurrently, gold prices surged past $5,000 per troy ounce as investors sought safe havens amidst geopolitical uncertainty. The U.S. and Iranian representatives recently met in Geneva to discuss Iran's nuclear program, but negotiations have stalled, raising concerns about potential supply disruptions through the Strait of Hormuz, a crucial oil transit route. With approximately 20 million barrels of oil passing through daily, any conflict could significantly impact global oil prices and contribute to inflation.

Key Details: • Brent crude reached $71.49 per barrel; U.S. crude at $66.18. • Gold prices surpassed $5,000 per troy ounce. • 20 million barrels of oil flow through the Strait of Hormuz daily. • Potential military actions may prioritize protecting oil flow in the region.

gold oil geopolitics iran us

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Donald TrumpSaxo BankJ. D. VanceStrait of HormuzCapital.comGinebraDennis Follmer

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