[MARKET ANALYSIS] Crude marginally firmer following reported attacks on Saudi Arabia; gold dips

Crude futures are marginally firmer, with WTI Dec just under USD 99.00/bbl (98.04-99.00 range) and Brent Dec around USD 110.00/bbl (109.00-110.10range). The market continues to digest Trump's waiver of Russian energy sanctions. Downside is limited by continued Middle East risks, as the Houthis claimed six attacks on Saudi Arabia in 48 hours, including on the Yanbu Aramco facility and Shaybah oilfield, and Yemeni forces reportedly targeted Saudi Arabia's Dammam airport overnight. On the diplomatic front, Pakistani Army Chief Munir arrives in Tehran today. Spot gold is slightly lower at within a USD 4,129-4,144/oz range, after higher US yields weighed on haven assets on Monday, although the yellow metal holds above the USD 4,100/oz handle. Goldman Sachs estimated central bank purchases of 79 tonnes in August, with China the largest identifiable buyer, and continues to see central bank demand as a structural support. Spot silver is also softer. Copper futures are mildly lower in subdued trade, as the weakness in Asia-Pac equities offsets lingering support from Monday's better-than-expected Chinese activity data.