World · 29 January 2026
Oil Surges and Stocks Hit Records While Precious Metals Tumble
On January 29, 2026, Brent crude topped $70 per barrel amid US-Iran tensions, pushing the FTSE 100 to a record high. While copper surged past $14,000 per tonne, gold, silver, and Bitcoin suffered sharp sell-offs. This mixed reaction contrasts with previous market routs in 2025 driven by similar geopolitical fears. Energy stocks like Shell and BP rallied, though volatility remains high as investors weigh inflation and conflict risks across global markets.
Reported by Guardian · How we write briefs