Oil was the day’s standout, with Brent (UKOil) up 6.78% to 106.05 and WTI (USOil) up 6.65% to 100.74. Both are now up more than 12% on the week and over 60% on the year.

Metals ran the other way, and European equities finished the London session broadly in the red.

Commodities and metals

The crude rally stretches a strong stretch: UKOil is up 21.96% on the month, USOil 23.25%.

Precious metals moved sharply lower. Platinum (XPTUSD) dropped 6.27% to 1,784.12 and silver (XAGUSD) fell 5.38% to 63.57. Palladium slid 5.65% to 1,279.14.

Gold (XAUUSD) held up better in relative terms but still eased 1.76% to 4,316.98, leaving it down 2.58% on the week. Silver remains up 53.16% over twelve months despite the pullback.

Currencies

The dollar firmed against the Scandinavian and antipodean crosses. USDSEK gained 0.81% to 9.66787 and USDNOK rose 0.73% to 9.26092.

USDJPY added 0.55% to 154.38, though the pair is still down 3.1% on the month. The Aussie and Kiwi lagged: AUDUSD fell 0.86% to 0.71579 and NZDUSD lost 0.90% to 0.57906.

EURUSD slipped 0.24% to 1.16049 and GBPUSD eased 0.31% to 1.35062. EURGBP was virtually unchanged at 0.85844.

Indices

European benchmarks closed lower across the board. The DAX 40 fell 0.82% to 25,338.09 and the Euro Stoxx 50 lost 0.68% to 6,255.78, now down 4.43% on the month.

The CAC 40 dipped 0.50% to 8,109.12 and the FTSE 100 fell 0.46% to 10,602.97. The IBEX 35 was the mildest decliner at -0.25%, but remains up 28.02% on the year.

Wall Street opened soft as London wound down: the Nasdaq 100 was off 1.08% at 29,118.27 and the S&P 500 down 0.66% at 7,595.72. Asia had already closed weaker, with the Hang Seng down 1.14%.

Crypto

Bitcoin Cash (BCHUSD) led the losses, down 10.11% to 226.29. Bitcoin (BTCUSD) fell 1.38% to 77,185.69, though it holds a 21.73% monthly gain.

XRP dropped 2.98% to 1.3522 and Solana lost 1.60% to 99.86. Tezos (XTZUSD) bucked the trend, up 2.15% and 18.81% on the week.

The metals complex remains the session’s clearest weak spot, with platinum, palladium and silver all shedding more than 5% against oil’s near-7% surge.