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Commerzbank Says Brent Prices Consolidate After Rising, Treasury Futures Stabilize After Asia Lows, Gold Up

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Brent prices briefly rise above $88 a barrel before consolidating as hopes for a lasting US-Iran peace agreement fade, according to Commerzbank Research in a note. Treasuries close lower Monday, while futures stabilize after hitting new lows in Asia.

President Donald Trump demands compensation from Iran for US deaths and damages. Gulf states increasingly accept a "new normal" in which Iran controls the waterway, according to the WSJ.

Cleveland Federal Reserve President Beth Hammack, a hawkish dissenter, says several rate hikes may be needed but doesn't want to "prejudge" how many, added Commerzbank.

US equity futures recover in Asia, while the US dollar remains supported and gold climbs back above $4,400/oz.

In Australia, the central bank kept rates unchanged, in line with expectations.

In Britain, BRC retail sales declined more than expected in July, said the bank.

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