Commodity Corner: Oil Slides on Russian Supply Optimism While Gold Creep Up Amid Energy Cease‑Fire Talk

On Monday, commodity markets gave investors a mixed bag. Crude oil gave up a little ground, but gold managed to claw its way a touch higher, leaving the rest of the metal camp trailing behind.

Brent futures slipped $1.37, or about 1.31%, to settle around $103.35 a barrel. In the U.S., West Texas Intermediate was down $1.30, roughly 1.42%, trading at $90.55. The dip wasn’t driven by a sudden demand shock; rather, it was the fresh optimism that Moscow might start shipping more oil after President Donald Trump hinted at a diesel‑supply arrangement with Russia. Trump also claimed Ukraine and Russia had agreed to halt attacks on each other's energy infrastructure – a headline that, if true, could smooth the supply curve for the world’s biggest oil exporter.

Gold, on the other hand, seemed to shrug off the oil news. The shiny metal hovered near $4,200 an ounce, nudging upward after a 1.3% rally the week before. Traders are still chewing over Trump’s “energy cease‑fire” claim, weighing whether a calmer Russia‑Ukraine front could ease geopolitical risk premiums. Silver kept pace, edging 0.6% to $60.99 an ounce, while platinum and palladium both posted modest gains.

Meanwhile, the U.S. dollar stayed perched near a 1½‑year high in early Asian trade. A simmering conflict in the Middle East kept a wary eye on inflation, especially as investors brace for the U.S. core‑inflation numbers due later in the week – data that could steer the Fed’s next policy move.

In short, oil gave up a little on the back of hopeful supply news, gold edged up on risk‑off vibes, and the broader market remains on edge, waiting for inflation data to tell us whether the calm is real or just a brief lull.