DBS Group Research strategist Eugene Leow warns that low Oil inventories, especially in the United States, could keep Oil prices and global yields supported even if a US-Iran deal reopens the Strait of Hormuz.

ING analysts Warren Patterson and Ewa Manthey note that Oil prices remain highly sensitive to shifting US–Iran negotiation headlines, with recent breakdowns in talks boosting prices. They highlight additional risks from Iranian threats in the Bab el‑Mandeb and Russia’s jet fuel export ban.

West Texas Intermediate (WTI) edges lower on Tuesday, trading around $90.15 at the time of writing, down 0.89% on the day.

Gold (XAU/USD) moves higher on Tuesday but remains within a two-week range as traders track rapidly changing headlines from the Middle East. At the time of writing, XAU/USD trades around $4,530, up nearly 1% on the day.

ING’s Warren Patterson and Ewa Manthey report that EU Natural gas storage has risen above 40% but remains well below the five-year average. With peace talks stalling and LNG disruptions from the Middle East, they see rising risks of tighter supply into winter.

TD Securities strategists have cut their Gold forecasts for the next two quarters as higher inflation expectations from supply shocks lift yields and keep the Dollar firm, with markets even pricing a potential Fed hike in late 2026.

Silver price (XAG/USD) trades 1.85% higher to near $76.30 during the European trading session on Tuesday. The white metal gains as oil prices have corrected, while uncertainty surrounding the United States (US)-Iran remains intact.

Gold (XAU/USD) bounces up on Tuesday, retracing Monday's losses and returning to levels beyond $4,500.

Rabobank’s Senior Macro Strategist Bas van Geffen highlights that Brent futures near the mid-$90s per barrel, down from a recent peak of $108, still reflect only a relatively optimistic scenario for the Iran conflict.

Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $76.37 per troy ounce, up 2.00% from the $74.87 it cost on Monday.

TradingKey - Recentemente, os preços da prata ( XAGUSD) têm oscilado na faixa de US$ 73,60 a US$ 78,00, impactados pelas mudanças nas tensões entre EUA e Irã. No entanto, à medida que surgem sinais de

Danske Research Team notes that Brent crude briefly traded above USD 97 before easing below USD 95 as Iran–US ceasefire negotiations fluctuated. They highlight reports that OPEC+ may modestly lift July output, but see limited price impact unless exports rise.

Gold is navigating a challenging environment as tight global energy markets and quickly shifting central bank expectations alter investor sentiment.

Deutsche Bank’s Jim Reid and colleagues outline a baseline scenario in which a US-Iran agreement this month reopens the Strait of Hormuz, allowing Brent Oil to retreat toward $86 per barrel in Q4 2026.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $89.35 during the early European trading hours on Tuesday.

MUFG’s Michael Wan notes that negotiations around the US-Iran conflict and developments in the Strait of Hormuz remain a key driver for global markets. He highlights a sharp Brent crude spike toward $97 before a partial pullback, as well as fragile ceasefire dynamics.

OCBC's strategists Sim Moh Siong and Christopher Wong turn more cautious on Gold in the near term, cutting its price forecasts as elevated Oil prices, higher yields and a more hawkish Federal Reserve (Fed) have weakened Gold’s backdrop.

Gold prices rose in India on Tuesday, according to data compiled by FXStreet.

Silver (XAG/USD) attracts some buyers during the Asian session on Tuesday and currently trades around the $75.70-$75.75 zone, up over 1% for the day. The white metal, however, remains confined in a multi-day-old range, warranting some caution for aggressive bullish traders.

US President Donald Trump said that he will have an agreement with Iran to extend the ceasefire and reopen the Strait of Hormuz "over the next week,” ABC News reported on Monday.

Crude Oil spent all of May bleeding out a war premium on the assumption that a US-Iran deal was a formality, and on Monday the market got a blunt reminder that nobody actually signed anything.

Gold price retreats by more than 1% on Monday as the market mood shifts to neutral amid developments in the Middle East that threaten to end the ceasefire between the US and Iran. The XAU/USD trades at $4,490 after reaching a daily high of $4,546.

TD Securities’ Senior Commodity Strategist Ryan McKay argues that Oil fundamentals will tighten materially even if a comprehensive deal fully reopens the Strait of Hormuz.

TradingKey - As tensões geopolíticas entre os EUA e o Irã escalaram drasticamente após o Irã anunciar o bloqueio total do Estreito de Ormuz e suspender todas as negociações com os EUA, levando os dois

Silver (XAG/USD) trades lower around $74.60 per troy ounce on Monday at the time of writing, down 0.92% on the day.

TD Securities’ Ryan McKay and Bart Melek note that Gold has lagged the broader commodity basket, especially Oil and base metals, as geopolitical tensions between the US and Iran persist without a deal.

Gold (XAU/USD) kicks off the week with a negative bias as slow progress toward a US-Iran ceasefire extension deal and fresh attacks in the Middle East keep buyers cautious. At the time of writing, XAU/USD is trading around $4,500 after hitting a two-week high near $4,595 on Friday.

Gold (XAU/USD) trades lower on Monday, reverting Friday’s gains and returning to the $4,500 atrea following rejection at the $4,590 resistance area.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $75.95 per troy ounce, up 0.89% from the $75.28 it cost on Friday.

Crude prices are trading higher on Monday, with the barrel of the US benchmark West Texas Intermediate (WTI) changing hands at $89.40 at the time of writing, nearly $3 higher than last week’s closing price.