[MARKET ANALYSIS] Oil futures mildly gained amid lack of Hormuz deal and as shipping through the strait grinds to a halt, while US-Iran MoU is set to expire today

WTI/Brent: WTI Oct'26 +0.6% / Brent Oct'26 +0.7% Oil prices are mildly higher as participants continue to await a Strait of Hormuz deal and after shipping through the key waterway slowed over the weekend, with only five commodity vessels transiting through the strait on Saturday and none on Sunday, while the overall geopolitical situation remains uncertain with the US-Iran MoU set to expire today. Gold: +0.5% Edged higher and briefly reclaimed the USD 4,400/oz level before paring some of the gains. Copper: +1.4% Benefited alongside the positive risk appetite in the red metal's largest buyer, despite the incoming Chinese activity data, with the release time revised to 15:00 local time.