Oil Drops Sharply as U.S. Dollar Weakens and Gold Advances

WTI crude fell more than 5% to $91.4 per barrel and Brent dropped about 4% to $92.6, pointing to a broad sell-off in oil prices. At the same time, the U.S. Dollar Index (DXY, a measure of the dollar against major currencies) moved below 99, while NZD/USD rose 1.09% to above 0.59. Spot gold gained $30 to reach $4,457 per ounce, showing strength in precious metals alongside currency market moves. The combination of lower oil prices, a softer dollar, and firmer gold reflects a cross-asset shift in market positioning based on the quoted price moves.

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