[MARKET ANALYSIS] Oil prices marginally extend on gains amid geopolitical uncertainty and as Iran digs in its heels regarding Hormuz reopening

WTI/Brent: WTI Sep'26 +0.8% / Brent Oct'26 +0.6% Oil prices mildly edge higher amid the ongoing geopolitical uncertainty as Iran digs in its heels, with Supreme National Security Council Secretary Razaei stating that the Strait of Hormuz would not open until the US changed its behaviour and accepted Iran's conditions, while there were also recent reports of vessels targeted in the Bab Al-Mandab and Gulf of Oman. Gold: +0.6% Resumes this month's rebound and eyes a retest of the USD 4,400/oz level, while attention turns to the incoming US inflation report. Copper: Flat Continues this week's sideways price action amid the mixed risk appetite in stocks.