Iran Political Developments Lift U.S. Dollar Index to 98.82 as Gold Falls

Markets reacted across commodities and currencies after reports of political disruption in Iran’s negotiations with the United States. Iran International TV reported that Ghalibaf, identified by the source as Iran’s chief negotiator, resigned and left Iran’s delegation in Islamabad, Pakistan, on April 24, while N12 reported that parliament speaker Qalibaf resigned from the negotiation team after intervention by the Revolutionary Guard. Following the reports, oil prices rose, with various cited snapshots showing WTI at $94.65, WTI futures at $92.37, a later reading of WTI at $98.4, and Brent at $100.07; another report said U.S. crude and Brent each gained $1.8. At the same time, the U.S. Dollar Index rose nearly 20 points to 98.82 and spot gold fell by nearly $30, indicating a broader cross-asset repricing tied to heightened geopolitical risk and changing supply expectations.

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