[MARKET ANALYSIS] Commodity prices are on the backfoot amid the mostly subdued risk appetite, firmer dollar and LME technical issues

WTI/Brent: WTI Mar'26 -1.0% / Brent Apr'26 -1.0%

• Oil prices gave back some of the prior day's gains, which were spurred by ongoing geopolitical risks regarding potential US military action against Iran, although the latest from US President Trump is that he plans to have talks with Tehran and noted there are big, powerful ships going to Iran, which he hopes that they don't have to use.

Gold: -1.6%

• Retreated back beneath the USD 5,400/oz with the precious metal pressured by a firmer buck ahead of President Trump's announcement of his Fed Chair pick on Friday morning and with a US journalist posting that Trump was said to be leaning towards Kevin Warsh.

Copper: -1.7%

• Futures were pressured with demand not helped by the mostly subdued risk appetite and the delay in LME trading due to technical issues, which has since been resolved.