[MARKET ANALYSIS] Oil prices remain lacklustre, while gold rebounds following the prior session's pullback after finding support around the USD 5,000/oz level

Oil prices remain subdued, driven by Kazakhstan's resumption of production and OPEC+'s likely continuation of supply cuts.

Newsquawk StaffPublished On the live feed at , 20 minutes before this page
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[MARKET ANALYSIS] Oil prices remain lacklustre, while gold rebounds following the prior session's pullback after finding support around the USD 5,000/oz level

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WTI/Brent: WTI Mar'26 -0.5% / Brent Apr'26 -0.6%

  • Oil futures are lacklustre following the prior day's flimsy performance, with Kazakhstan set to resume production at its biggest oilfield, while reports also noted that OPEC+ is likely to maintain its supply pause in March.

Gold: +1.0%

  • Rebounded from the prior session's trough with a brief pullback cushioned after finding support around the USD 5,000/oz level.

Copper: -2.3%

  • Faded some of its recent gains after failing to sustain a brief return above the USD 6/lb level, and with demand not helped by the downbeat mood in its largest buyer, China.
Context

Conversely, gold is rebounding from a previous low, indicating some resilience amidst a generally cautious commodity market, which could reflect investor sentiment shifting towards safer assets. The dynamics highlight critical supply-demand balances in the oil market and a contrasting flight to quality in metals.

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