This report is provided by MacroTerms.com

Data as of: 2026-10-21 · Settlement: Exchange final daily settlement
Generated: 2026-10-21 07:08:06 · Benchmark settle: 2026-10-20
Body, Best Trade and charts share the same settlement snapshot; intraday live prices are not part of conclusions

Commodities Pre-Open Brief 2026-10-21: WTI Crude Gaps -3.5% in Asia as Brent Holds

1) WTI crude gapped -3.54% in Asia to 98.19, breaking below NEXT S1 at 98.39 after the prior +10.4% rally (10-12→10-16) fully reversed;
2) Gold settled 4142.6 (-0.42%) with Asia flat at 4139.49 (-0.08%); silver +1.27% to 58, and the gold/silver ratio at 71.42 sits in the 85th 1Y percentile, silver lagging.
3) Brent held 109.55 (-0.28%) with the WTI-Brent spread at -5.89 and M1-M2 backwardation widening to 3.48 from 3.04.