Iran Sanctions

Gold opened the week sharply lower, trading near $4,331 after losing about $77, as a reported diplomatic meeting that supported Friday’s risk bounce failed to materialize. WTI crude moved back above $102 as Saudi Arabia’s East-West pipeline shutdown revived concerns over a major export bypass route.

Iran sanctions and shipping restrictions around the Strait of Hormuz are keeping global refined-fuel supply under pressure while crude traders monitor key support levels. U.S. natural gas remains comparatively well supplied, but technical momentum is still fragile as prices hover near trendline support.