ABU DHABI: Global commodity markets experienced a reallocation of capital during early Asian trading on Thursday, as a contraction in oil prices and a weaker US dollar combined to lift gold and other precious metals.Oil prices edged lower on Thursday morning, reversing a portion of the sharp premium recorded in the previous session. Brent crude futures declined by 67 cents, or 0.69%, to trade at $97.14 a barrel, while US West Texas Intermediate (WTI) crude futures dropped 62 cents, or 0.65%, to reach $95.40 a barrel.This downward adjustment in energy overheads, coupled with cooling momentum in the US dollar, provided immediate support to safe-haven assets. Spot gold advanced 0.4% to reach $4,450.16 per ounce, while US gold futures for August delivery gained 0.2% to settle at $4,477.00.The upward momentum extended across the precious metals complex, with spot silver rising 0.8% to $73.26 per ounce. Platinum edged up 0.2% to trade at $1,863.25, while palladium gained 0.5% to reach $1,307.67.The early morning decline in crude oil benchmarks was primarily driven by widespread profit-taking following Wednesday’s multi-month highs, alongside a brief pause in fresh escalation across the Arabian Gulf, which allowed the market to undergo a technical correction.

Dubai: The National Centre of Meteorology (NCM) has issued a nationwide dust and wind warning as summer temperatures surge into the mid-40s across the UAE.A significant shift in weather patterns is bringing fresh northwesterly winds to the region from today, Thursday, June 4, through Saturday, June 6. While these winds typically average speeds of 10 to 25 km/h, the NCM warns they are expected to peak at 40 km/h. The high-speed gusts will kick up widespread dust and sand during the daytime, severely affecting exposed areas and the country's western region.Travel and health warnings issuedThe dusty conditions will significantly reduce horizontal visibility across major highways and residential sectors. The NCM strongly advises both residents and tourists to exercise extreme caution while driving and recommends limiting outdoor exposure until the atmospheric dust settles.Severe sea conditions: Avoid nighttime swimmingIn addition to blowing dust, the strong northwesterly winds are heavily impacting coastal waters. A marine warning is currently in place for the Arabian Gulf:Arabian Gulf: Conditions will be moderate to rough during the day, escalating to very rough by night, with wave heights reaching peak swells of seven to nine feet. Residents are urged to completely avoid nighttime beach activities.Oman Sea: In contrast, the eastern coast will remain safe and calm, with slight sea conditions and gentle waves peaking at a maximum height of three feet.Peak temperatures: Inland regions bear the bruntWhile coastal cities like Dubai and Abu Dhabi are seeing daytime highs cap at 40°C before dropping into the late 20s overnight, internal regions are experiencing the most intense heat. Al Ain is forecasting the highest temperature in the country today at 45°C, closely followed by Ras Al Khaimah at 44°C and Liwa at 43°C.Here is the complete breakdown of minimum and maximum temperatures across the Emirates today:Maximum Temp (°C) Minimum Temp (°C)Al Ain 45°C 28°CRas Al Khaimah 44°C 31°CUmm Al Quwain 43°C 31°CLiwa 43°C 29°CAjman 42°C 30°CSharjah 41°C 30°CDubai 40°C 29°CAbu Dhabi 40°C 28°CFujairah 40°C 31°C