[MARKET ANALYSIS] Oil futures remain afloat as US-Iran strikes continued overnight

WTI/Brent: WTI Aug'26 +0.7% / Brent Sep'26 +0.9%

• Oil futures remain afloat after gaining yesterday as strikes continued across the Middle East in the ever-widening conflict. The attacks by both sides persisted overnight, and Trump said they will hit Iran hard tomorrow night, as well as threatened to hit Iranian power plants and bridges next week unless Iran comes to the negotiating table, although he abandoned plans to impose a 20% Strait of Hormuz fee.

Gold: -0.3%

• Faded its recent moves after climbing to around the USD 4,100/oz in the aftermath of the softer-than-expected US CPI data, where the precious metal then hit resistance.

Copper: -0.1%

• Trades rangebound as participants brace for the latest Chinese GDP, Industrial Production and Retail Sales data.