[MARKET ANALYSIS] Crude futures muted as markets await Trump's next step on Iran

Crude futures rotate in a tight USD 1/bbl range as newsflow is light. The latest update came from the Iranian Foreign Ministry Spokesperson, stating that it is not responsible to expect a quick conclusion of the negotiations and that the other party has not used the opportunity provided by Iran's proposal. Markets will be awaiting Trump’s decision on the path forward on Iran. Reports in recent sessions have pointed to a plan that includes a short and powerful strike, potentially targeting infrastructure.  Precious Metals initially started the Asia-Pac session on the front foot but has pared back slightly as trade progresses. Currently, spot gold oscillates in a USD 4614-4636/oz range 3M LME Copper surges higher, catching up to the risk-on sentiment seen stateside. 3M LME Copper gapped higher and trades at the upper end of its USD 13.07k-13.12k/t range.