Oil prices fell on Thursday, on the prospect of an increase in supply from major oil producing countries, amid lingering concerns about demand.

Prices of crude oil (CL=F, BZ=F) and gold (GC=F) tick higher Wednesday morning on reports that Israel may be planning an airstrike against Iran's nuclear facilities. Yahoo Finance senior energy markets reporter Ines Ferré outlines the price moves in these two key commodities. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

Gold also pushed higher as geopolitical uncertainty fuelled safe haven demand.