[MARKET ANALYSIS] Oil prices are subdued after slumping yesterday as reports pointed to progress in talks to reopen the Strait of Hormuz

WTI/Brent: WTI Sep-26 -0.6% / Brent Oct'26 -0.3%Oil prices are subdued overnight after sliding yesterday as multiple reports pointed towards progress surrounding the reopening of the Strait of Hormuz, while the latest from Axios noted that the US is aiming to announce a deal as soon as today.Gold: +0.5%Tests the USD 4,100/oz level to the upside after the recent decline in oil dragged the dollar and yields lower.Copper: -0.1%Trades sideways despite the rally in stocks, and with prices not helped by weak Chinese PMI data.