[MARKET UPDATE] Sentiment sours in Asia-Pac as oil prices extend on gains with WTI crude testing USD 115/bbl to the upside, while US index futures and spot gold are dragged lower

The rise in WTI crude prices to around $115/bbl is likely driven by tightening supply or heightened demand forecasts, which could exacerbate inflationary pressures globally. This surge is weighing on US index futures and spot gold, suggesting a risk-off sentiment as investors reassess growth prospects amid rising energy costs.