Markets · Commodity markets, August 3

What moved in commodities

Monday, August 3, 2026. From GEO's evening brief, after the close.

Oil led the day with a sharp reversal, WTI down more than 5% as the Iran risk premium continued to unwind after Trump paused strikes and opened fresh talks. OPEC+ moved to roll back its 2023 production cut, adding supply-side pressure. Cocoa was the standout in ags, jumping over 9%. Gold held near $4,080/oz as the oil slump eased inflation worries.

Written with AI from public sources, checked by code, reviewed by GEO. Not investment advice.