[MARKET ANALYSIS] Commodities fade some of their recent gains after advancing on the risk-on mood and weaker dollar

WTI/Brent: WTI Mar'26 -0.2% / Brent Apr'26-0.2%

• Oil futures take a breather after gaining yesterday alongside the broader risk sentiment and dollar weakness, while it was also reported that Qatar pushed the start of its LNG expansion to the end of 2026 and that US forces seized an oil tanker departing from Venezuela.

Gold: -0.5%

• Gold prices pulled back after advancing the prior day as the dollar was sold, although the downside is stemmed overnight with the precious metal holding above the USD 5,000/oz level.

Copper: -0.4%

• Trades rangebound and holds on to most of its recent spoils alongside the mostly positive risk sentiment.

The commodities market is showing signs of profit taking following gains driven by a risk-on sentiment and a weaker dollar. Oil prices have slightly retreated as geopolitical developments, such as Qatar's LNG timeline shift and US military actions, continue to influence sentiment, while gold is stabilizing above critical levels despite a minor pullback.