[MARKET ANALYSIS] Oil prices are underpinned after US and Iran conducted a fresh round of retaliatory strikes

WTI/Brent: WTI Oct'26 +1.4% / Brent Nov'25 +1.5% Oil prices shrugged off the prior day's choppy mood and extended on recent gains, with upside facilitated after the US and Iran exchanged another round of retaliatory strikes, in which US forces destroyed five Iranian crude oil carriers, and Iran launched at least 20 missiles targeting bases in Jordan. Gold: +0.5% Rebounded from an early trough but remains beneath the USD 4,400/oz territory amid inflationary headwinds from higher oil prices and as participants await US inflation data later in the week. Copper: -0.9% Prices eased back overnight as LME futures retreated from their recent record levels and following the subdued mood during US trade.