[MARKET ANALYSIS] Commodities extend on recent gains with oil underpinned by geopolitical uncertainty following Iran and Trump tit-for-tat reparation demands

WTI/Brent: WTI Sep'26 +0.4% / Brent Sep'26 +0.3% Oil futures remain afloat after rallying yesterday by more than 5% in the absence of a Strait of Hormuz deal and with efforts to reopen the waterway dampened by tit-for-tat demands by Iran and US President Trump for reparations. Gold: +0.8% Extended on this month's advances after rallying above the USD 4,400/oz level with prices at a 2-month high. Copper: +0.7% Joins in on the commodity-related advances but with further upside contained as its largest buyer, China, lags.