ISTANBUL
Global energy prices continued their downward trend on Tuesday, while precious metals also retreated in early trading.
International benchmark Brent crude fell 1.96% to $90.7 per barrel, widening its weekly decline to 12.4%, according to market data as of 0820GMT.
US benchmark West Texas Intermediate (WTI) crude slipped 1.8% to $85.3 per barrel, bringing its drop over the past week to 11.49%.
European natural gas dropped 0.88% to €81.77 ($91.9) per megawatt-hour.
In precious metals, spot gold decreased 0.55% to $4,117.79 per ounce, though it remained 4.79% higher on a weekly basis.
Silver declined 1.04% to $52.84 per ounce, keeping its weekly gain at 6.17%.
The slide in energy markets followed remarks by US President Donald Trump suggesting that further military strikes on Iran appear unlikely if nuclear talks and efforts to reopen the Strait of Hormuz progress.
Rising oil output from OPEC members, alongside easing fears of Middle East supply disruptions, added further downward pressure on crude benchmarks.
Meanwhile, gold and silver prices pulled back amid profit-taking and investor caution ahead of key US inflation data and uncertainty over the Federal Reserve’s interest rate path.
