Expectations of stronger supply pushed Brent crude toward $78 per barrel, its lowest level since early March, extending a five-day decline despite an 8.3 million-barrel drop in US crude inventories. Additional supply from the UAE and higher OPEC+ quotas added to the pressure.

Lower oil prices eased inflation concerns and supported demand for precious metals. Gold climbed above $4,300 per ounce, securing a weekly gain of more than 2%, while silver rose around 3% toward $70. The shift also softened interest rate expectations. The Federal Reserve is expected to leave rates unchanged at its upcoming meeting, the first under Chair Kevin Warsh. The Reserve Bank of Australia kept rates at 4.35%, while the Bank of Japan raised its policy rate by 25 basis points to 1%.

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