// COMPARE

WTI slipped to $88.48 (-0.23%), giving back overnight gains as Hormuz ceasefire optimism overcame US-strike concerns. Tight range as traders waited for the next Iran headline.

Oil is trading the binary — every Iran news cycle whipsaws the tape. The underlying physical market remains tight (OPEC+ disciplined), but headline risk dominates positioning until resolution.

Any Hormuz deal confirmation pushes to $85; failure or fresh escalation reopens $95. Weekly EIA inventories Wednesday remain in the background. $90 is the headline-driven pivot.

Gold rebounded to $4,523 (+1.71%) as US strikes on Iran reignited the safe-haven bid after two sessions of ceasefire-driven selling. Silver led the precious metals complex higher with a +1.90% move.

The Iran story is a two-sided coin flip and gold remains the cleanest hedge for both inflation tail-risk (if oil spikes) and stagflation (if growth slows). Fed cut bets keep real yields contained.

Friday PCE inflation print is the binary catalyst — hot reading hits gold via real yields, cool print extends the rally. Support $4,450; resistance $4,580 then prior high $4,650.