[MARKET ANALYSIS] Oil prices retreat after Trump extends Hormuz deadline by another 10 days

WTI/Brent: WTI May'26 -1.9% / Brent Jun'26 -1.9%

• Oil futures are lower with WTI beneath the USD 93.00/bbl level and with Brent battling to sustain the USD 100/bbl status after pressure was seen following US President Trump's announcement to extend the Strait of Hormuz deadline for 10 days.

Gold: +1.1%

• Edges higher as it nurses recent losses, and with lower oil prices reducing the urgency for a more hawkish Fed.

Copper: +0.6%

• Prices are kept afloat after the recent choppy performance, but with gains capped amid the mixed risk appetite in Asia and conflicting geopolitical signals.