// 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.

Silver surged 1.90% to $76.02, outpacing gold's bounce as industrial-metals demand and the geopolitical bid stacked. Opened lower on Iran drone news, then ripped on the strike headlines.

Silver is leveraged gold plus an AI capex play — solar and data-center wiring demand sit underneath the macro trade. When gold runs and risk is on simultaneously, silver outperforms both.

$77 is the technical breakout level — clean break opens $80. PCE Friday matters less than gold for silver; watch copper and AI capex headlines instead.