[MARKET ANALYSIS] Oil prices pulled back after last Friday's surge and following mixed geopolitical headlines over the weekend

WTI/Brent: WTI Dec'26 -1.7% / Brent Jan'27 +1.3% Pulled back from last Friday's peak after surging alongside the backdrop of ongoing geopolitical risks, while weekend headlines were mixed, as there were reports of a fresh exchange of Saudi-Houthi strikes and an IRGC launcher in Sirik was hit by a missile from an unknown fighter jet after it fired a missile towards the Strait of Hormuz. Conversely, US President Trump responded to questions from a reporter and stated that there would not be a strike against Iran on Sunday, while he also commented that US-Russia-Ukraine three-way talks are to take place very soon. Gold: -0.1% Trades sideways just beneath the USD 4,000/oz level as participants await this week's central bank announcements. Copper: -0.3% Lacks demand amid the mostly subdued risk sentiment in Asia.