Crude gave back part of last week's surge on Monday. Brent fell roughly 2.5% to around $107 a barrel and WTI slipped back below $100, after the United States waived sanctions on Russian crude, raising expectations of additional supply. Shipping risks around the Strait of Hormuz remained a supporting factor in the background.
The pullback in energy helped ease bond yields: the US 10-year Treasury yield fell to about 5.05%, well below the levels above 5.3% tested a week earlier. Gold firmed around 0.4% to roughly $4,180 an ounce, holding its recovery from the dip toward $4,073 that followed last week's hot US inflation data.
For FX, the oil move is one to watch in USD/CAD, since the Canadian dollar has drawn support from crude above $100. Lower oil also eases some of the inflation pressure that markets had been pricing into rate expectations ahead of next week's Fed and ECB decisions.
Prices are approximate intraday levels from October 19, 2026, and vary by source. Education and analysis only, not investment advice.