Brent crude is holding firm at a six-week high as the United States launches its 12th consecutive night of strikes against Iran.
The sustained military campaign continues to weigh on global supply expectations, keeping a premium on energy assets despite broader market caution.
The escalation has triggered a distinct cross-asset divergence.
While oil prices remain supported by geopolitical risk, gold has pulled back from the two-week highs it reached in the previous session.
The precious metal’s retreat suggests traders are rotating out of safe-haven bids into energy exposure, or simply taking profits after a sharp run-up.
Market focus is now shifting toward the Federal Reserve’s policy meeting scheduled for next week.