[MARKET ANALYSIS] Oil futures are contained after recent gains and amid uncertainty regarding US-Iran talks on Tuesday

WTI/Brent: WTI Aug'26 -0.6% / Brent Sep'26 -0.5%

• Oil futures are contained following the prior day's gains, which were spurred by the tit-for-tat strikes over the weekend, with price action restricted overnight amid uncertainty regarding US-Iran talks on Tuesday. The US is insisting that the talks will occur, although the Iranian side has denied this, while it was reported that talks between the two sides are to likely be held in an indirect manner through Pakistani and Qatari mediators.

Gold: -1.2%

• Declined in tandem with the pressure in silver and with selling exacerbated on a break beneath the USD 4,000/oz level.

Copper: -0.1%

• Trades indecisively amid the mixed and choppy risk sentiment, despite the stronger-than-expected Chinese official PMI data.