[MARKET ANALYSIS) Oil prices remain underpinned as the Iran conflict entered a fourth day

WTI/Brent: WTI Apr'25 +1.0% / Brent May'26 +1.4%

• Oil futures remain underpinned as the Iran conflict entered a fourth day, with the IRGC threatening to attack any ship trying to pass through the Strait of Hormuz, while US President Trump warned of larger strikes against Iran.

Gold: +0.6%

• Rose but with gains capped amid fluctuations in silver and as the dollar held on to recent spoils.

Copper: +0.1%

• Trades indecisively with an early rebound thwarted by resistance around the USD 6/lb level and amid the downbeat risk sentiment.

The ongoing conflict in Iran has entered its fourth day, with escalating tensions, particularly threats against maritime passage through the Strait of Hormuz. This situation is likely to support oil prices as geopolitical risks heighten, which may also spill over into safe-haven assets like gold. Traders should monitor how this impacts broader market sentiment, especially in energy and related sectors.