[MARKET ANALYSIS] Oil futures extend on gains amid geopolitical uncertainty, with Trump stating the ceasefire is on life support

WTI/Brent: WTI Jun'26 +1.0% / Brent Jul'26 +09%Oil prices extended their gains amid geopolitical uncertainty after US President Trump commented that the ceasefire is unbelievably weak and is on life support, but added that a diplomatic solution with Iran is still possible, while some Trump aides said he is now more seriously considering a resumption of major combat operations than he has in recent weeks. Nonetheless, gains are capped as sources familiar with the talks noted a major decision on how to proceed is unlikely to be made prior to Trump's departure for China, and it was also reported that the US released another 53.3mln barrels from the SPR.Gold: -0.1%Price action is choppy following the prior day's advances across the metals complex and with participants mulling over the US-Iran impasse.Copper: +0.2%Takes a breather after recent advances and amid the mixed overnight risk appetite.