[MARKET ANALYSIS] Oil prices pulled back overnight despite US strikes on Iran
Oil prices retreated as investors viewed the US-Iran escalation as contained. Metals rose on initial dollar weakness post-FOMC, though Chair Warsh's firm inflation stance limited gold's upside.
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WTI/Brent: WTI Sep'26 -1.1% / Brent Oct'26 -1.0%Oil prices pulled back overnight following the prior day's rally and despite the US conducting strikes on Iran, as President Trump had warned that they would hit Iran hard in response to attacks targeting the US base in Jordan.Gold: +0.4%Benefits from the recent dollar weakness but is off the prior day's best levels after whipsawing post-FOMC.Copper: +1.7%Climbed higher overnight and revisited the highs seen following the initial dovish reaction to the FOMC.
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