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Global Commodities Rally as Oil and Metals Extend Gains on Geopolitical Tensions

Jan 29, 2026

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Global Commodities Rally as Oil and Metals Extend Gains on Geopolitical Tensions

Oil and precious metals surged on Thursday amid renewed geopolitical tensions that raised concerns over supply disruptions, pushing Brent crude above $70 per barrel and driving gold and industrial metals prices to multi-year highs. Investors shifted allocations toward commodities, reflecting safe-haven demand and broader macroeconomic risk premiums across energy and metals markets.

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