Oil Prices Dip Amid U.S. Sanctions Easing Rumors; IEA Outlook in Spotlight

Oil markets slipped on the back of a report that U.S. sanctions on key producers may ease, sending the West Texas Intermediate (WTI) benchmark down 1.04% to $94.10 and Brent crude to $104.39, a 1.57% drop.

The decline comes as traders await the International Energy Agency’s (IEA) forthcoming policy review, which could shape future supply expectations.

Gold and silver also moved modestly higher, with the gold‑to‑dollar pair climbing 0.80% to $4,138.07 and silver up 0.67% at $56.255.

Base metals followed a similar trend, with copper falling 1.56% to $6.5560 and aluminum slipping 1.00% to $2,959.85.

Natural gas edged up 1.81% to $3.258.

Overall, the market remains sensitive to geopolitical developments and forthcoming IEA guidance, with investors closely monitoring any shifts in supply dynamics and policy signals.