[MARKET ANALYSIS] Oil prices linger near the prior day's lows after slumping amid anticipation of returning supply

WTI/Brent: WTI Jul'26 +0.2% / Brent Aug'26 +0.1%

• Oil prices are rangebound overnight and linger near the prior day's lows after slumping again amid prospects of returning supply due to the US-Iran interim peace deal, with Qatar reportedly to restore half of its LNG output a month after the Strait of Hormuz reopens, which could rise to 80% within two months, while it was also reported that the US will allow Iran to immediately begin selling oil and fuel under the deal to end the war.

Gold: +0.2%

• Remains afloat after recent dollar weakness and softer yields, but with upside contained ahead of the FOMC.

Copper: +0.3%

• Price action is rangebound amid the mixed global risk appetite.