Oil mixed as WTI hits two-week high

Oil prices moved in both directions on Tuesday, according to The Express Tribune, as traders weighed a possible US-Russia diesel arrangement that could add Russian supply against strikes in Saudi Arabia and Yemen that may disrupt flows. Brent futures eased 59 cents to $106.06 a barrel, while WTI crude gained 73 cents to $94.47, putting the American benchmark on course for its highest close since September 24, a second straight day.

Domestic gold rates went up on Tuesday, clawing back part of Monday's decline, while overseas bullion was little changed before American consumer price figures and remarks from the Federal Reserve chair. According to the All-Pakistan Gems and Jewellers Sarafa Association, the tola price climbed Rs900 to Rs440,836, while the 10-gram figure rose Rs771 to Rs377,945, and silver held at Rs6,532 per tola.

Spot gold was 0.1% lower at $4,164.70 an ounce, and the December US gold futures contract slipped to $4,188.40. Adnan Agar, director of Interactive Commodities, said bullion was trading within a narrow range and identified the band between $4,240 and $4,280 as a key resistance zone. Meanwhile, the rupee closed at Rs276.96 against the dollar, one paisa stronger than the previous session's Rs276.97.