Brent Crude Prices At February Lows Amid Recovery In Oil Flows Via Hormuz; Gold Prices Rally Malaysia [rMzIlm7KJ80]

Crude oil prices fell after OPEC agreed to further increase its output targets from August. Brent crude futures declined 0.33% to $71.88 a barrel, while US West Texas Intermediate crude was at $68.58 a barrel, down 0.16%.

Meanwhile, gold prices held near a two-week high after a cooler-than-expected US jobs report slightly tempered expectations of US Fed rate hikes. Spot gold price was steady at $4,175.02 per ounce, while US gold futures for August delivery rallied 1.5% to $4,186.80 per ounce. Spot silver prices gained 0.1% to $62.47 per ounce.

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