[MARKET ANALYSIS] Oil rebounds amid geopolitical risks after the US military was ordered to be ready for a possible resumption of strikes on Iran, but with no final decision made, while copper rallies as its largest buyer returned from a week-long absence

WTI/Brent: WTI Nov'26 +1.4% / Brent Dec'26 +1.6% Rebounded from the prior day's trough after ultimately settling lower on Wednesday in choppy trade as participants weighed up supply and geopolitical-related updates, while risks of a resumption in strikes linger with reports noting that the US military has been ordered to be ready for possible Iran strikes as President Trump weighs the timing, while Trump and his national security team have discussed possibly resuming large-scale US military operations in Iran in the coming weeks, including the option of launching strikes before the Midterm elections. Gold: +0.5% Edges higher overnight amid a rebound in commodities and as the dollar fades some of its recent gains. Copper: +1.6% Rallied with upside seen at the open of Shanghai Commodities trade as the metal's largest buyer returns to the market following a week-long absence.