[MARKET ANALYSIS] Oil prices saw two-way trade amid ongoing US-Iran stalemate and supply-related headlines

WTI/Brent: WTI Nov'26 -1.1% / Brent Dec'26 -0.7% Ultimately retreated in two-way trade with initial upside seen amid the ongoing US-Iran stalemate and reports that Houthis targeted an Aramco facility in Riyadh. However, the gains were short-lived as participants also mulled recent supply-related headlines, including the announcement on Friday that G7 countries agreed to release 100mln barrels of diesel and crude oil from emergency reserves, while President Trump had also announced that the US would not conduct a diesel export ban. Furthermore, there was little surprise from the OPEC+ meeting on Sunday, in which major producers agreed to maintain production quotas at their current levels for November. Gold: +0.4% Mildly edges higher following the post-NFP fluctuations and as long-term yields retreat overnight. Copper: +1.1% Rallied amid the mostly positive risk sentiment after October Fed rate hike bets unwound on the weak jobs data.