[MARKET UPDATE] Moves discussed in the last update extend, WTI May'26 testing USD 97/bbl to the downside, Brent Jun'26 below USD 100/bbl. European and US equity futures at fresh highs, fixed income extends and the USD retreats further.

The extension of moves in WTI testing the downside at USD 97/bbl, and Brent below USD 100/bbl suggests a shift in sentiment around oil prices, likely driven by supply concerns or adjusting demand forecasts.

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[MARKET UPDATE] Moves discussed in the last update extend, WTI May'26 testing USD 97/bbl to the downside, Brent Jun'26 below USD 100/bbl. European and US equity futures at fresh highs, fixed income extends and the USD retreats further.

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Meanwhile, the fresh highs in European and US equity futures, coupled with a retreat in the USD, indicate a risk-on environment, which could further pressure commodities if sustained. Traders should monitor if this trend influences broader inflation expectations and asset flows.

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