[MARKET ANALYSIS] Oil futures rebounded and gold is also positive but with upside capped ahead of key US jobs data

WTI/Brent: WTI Mar'26 +0.6% / Brent Apr'26 +0.6%

• Oil futures rebounded from the prior day's trough but with the upside limited after weekly private sector inventory showed a much larger-than-expected build for crude stockpiles, while US/Iran tensions remain in focus after President Trump said he was considering sending a second aircraft carrier strike group to the Middle East to prepare for military action if negotiations with Iran fail. Furthermore, he said that they will either make a deal or will have to do something very tough like last time, and expects the second round of US-Iran talks to take place next week.

Gold: +0.3%

• Mildly edged higher in choppy trade with participants lacking conviction as key US jobs report looms.

Copper: -0.1%

• Trades sideways heading to a major key risk event and with a lack of conviction seen in its largest buyer, China, following somewhat mixed Chinese inflation data.