Brent crude futures inched up 6 cents, or 0.06 per cent, to $95.04 a barrel at 0001 GMT, while US West Texas Intermediate fell 17 cents, or 0.18 per cent, to $91.99 a barrel
Dealers in India quoted discounts of up to $106 an ounce over official domestic prices this week, inclusive of 15% import and 3% sales levies, up from discounts of up to $78 an ounce last week
Prices have been volatile in recent sessions, swinging by as much as $6 for both benchmarks on conflicting signals over a possible end to the three-month US-Israeli war on Iran
Brent crude futures rose $1.90, or 2.02 per cent, to $96.19 a barrel by 0015 GMT, while the more active August contract gained $1.64 or 1.78 per cent, to $93.89
Brent crude futures fell $1.42, or 1.43 per cent, to $98.16 a barrel as of 0253 GMT, while US West Texas Intermediate (WTI) crude lost $1.66, or 1.77 per cent, to $92.23 a barrel
While both contracts fell during the overnight session on hopes of a peace deal, the US strikes in southern Iran and Israeli attacks on Hezbollah have boosted Brent prices
Brent crude futures fell $5.85, or 5.7 per cent, to $97.69 a barrel by 0343 GMT, while US West Texas Intermediate were at $90.85 a barrel, down $5.75, or 6 per cent
Gold's trajectory continues to depend on oil prices as traders remain fixated on rate moves. High oil prices are supporting the US Dollar and increasing the probability of rate hikes
