Apr. 3 at 10:18 AM
🛢️ Commodities
Oil -
$WTI /
$BNO
Oil was the entire market’s centre of gravity again.
WTI settled at
$111.54 and Brent around
$109, with Reuters and WSJ both describing the move as one of the largest daily jumps since the post-COVID rebound period.
That is why even a mixed close equity session should be read carefully: the market finished okay, but it did so under one of the biggest single day oil shocks in years.
Gold -
$GLD
Price action: Spiked early → reversed hard → sold into close
Tone: Failed safe-haven bid
Despite geopolitical tension (Iran/oil), gold did not hold strength
It sold off due to
$USD strength + positioning unwind (profit-taking/liquidation