US MARKET CLOSE | WTI Hits Three-Month High as Copper Extends Gains and Gold Falls

Brent crude rose to its highest level since late July, while WTI climbed to a more than three-month high after reports of an explosion on Iran's Kharg Island renewed concerns about tighter oil supply. According to Sina Finance, Brent crude rose about 1% to settle at $97.92 a barrel, while WTI futures gained 1.7% from Friday's close to settle at $93.03. London copper extended its rally as tight near-term supply and expectations that the United States will impose tariffs on refined copper imports supported prices. According to Sina Finance, LME copper rose 1.4% to $14,708.5 a ton, while LME aluminum, nickel, zinc and lead also advanced; LME tin fell 0.5%. Gold fell as traders weighed rising Middle East tensions against a weaker dollar. According to Sina Finance, spot gold dropped 1% to $4,357.88 an ounce at 4:45 p.m. in New York, after earlier falling as much as 1.1%.