[MARKET ANALYSIS] Oil prices suffer a double-digit percentage drop ahead of G7 energy ministers' talks and after US President Trump said the war could end very soon

WTI/Brent: WTI Apr'26 -10.4% / Brent May'26 -10.3%

• Oil prices are lower and have completely retraced this week's opening surge with pressure seen as the G7 mulls the release of emergency oil reserves, with their energy ministers set to hold talks later today, and the US is said to believe that a joint release of 300mln-400mln barrels of oil is appropriate, while further downside was seen after US President Trump suggested that the Iranian conflict is nearing an end.

Gold: +0.6%

• Edged higher with the metals complex helped by a weaker dollar amid hopes of a nearing conclusion to the hostilities in the Middle East.

Copper: +0.9%

• Advanced alongside the improvement in risk appetite, and with participants now awaiting the latest trade data from the red metal's largest buyer.