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[MARKET ANALYSIS] Crude benchmarks pause following yesterday's rally amid risks related to geopolitics and as US mulls a diesel export ban

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WTI and Brent paused after a rally amid reported geopolitical and diesel-export-ban risks; gold fell and copper was range-bound, according to the October 2 market update.

News detail

WTI/Brent: WTI Nov'26 -0.2% / Brent Dec'26 Flat Oil benchmarks paused overnight after rallying yesterday in the continued absence of any progress between the US and Iran. The upside was also facilitated amid the ongoing risk of a US diesel export ban, while WSJ reported that the US is sending a third carrier strike group to the Middle East and that President Trump was said to have told aides he expects to resume bombing Iran in November. Gold: -0.4% Retreated as the dollar held on to the recent spoils and with participants awaiting the key US jobs report. Copper: +0.1% Trades range-bound with demand contained amid the mixed risk appetite and absence of its largest buyer.

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