Commodities update: Brent and WTI lead declines
Brent and WTI fell while gold and silver rose; market prices are from Finnhub as of Nov 2, 19:00–19:01 UTC.
Where prices stand
Brent led the session, with the BNO ETF falling 7.00% from the prior close to $66.39. The USO ETF fell 6.70% from the prior close to $157.52. The SLV ETF rose 2.49% from the prior close to $45.71, and the GLD ETF rose 1.82% from the prior close to $362.25. The CPER ETF rose 1.21% from the prior close to $39.46, while the UNG ETF fell 0.66% from the prior close to $9.0200. Prices are from Finnhub and are shown as of Nov 2, 19:00–19:01 UTC.
| Instrument | Last | 5-session change | Latest change | As of | Source |
|---|---|---|---|---|---|
| Gold (via GLD ETF) | $362.25 | -2.95% | +1.82% | Nov 2, 19:01 UTC | Finnhub |
| Silver (via SLV ETF) | $45.71 | -8.46% | +2.49% | Nov 2, 19:01 UTC | Finnhub |
| WTI Crude Oil (via USO ETF) | $157.52 | -4.19% | -6.70% | Nov 2, 19:01 UTC | Finnhub |
| Brent Crude (via BNO ETF) | $66.39 | +6.84% | -7.00% | Nov 2, 19:00 UTC | Finnhub |
| Natural Gas (via UNG ETF) | $9.0200 | -10.97% | -0.66% | Nov 2, 19:01 UTC | Finnhub |
| Copper (via CPER ETF) | $39.46 | -0.18% | +1.21% | Nov 2, 19:00 UTC | Finnhub |
Trend check
WTI Crude Oil shows a bullish status with RSI(14) 53.4, a last close of 103.37, a 50-day SMA of 96.61 and a long SMA of 87.62. Brent Crude is neutral with RSI(14) 52.1, a last close of 123.10, a 50-day SMA of 114.21 and a long SMA of 97.34. Natural Gas is bearish with RSI(14) 42.0, a last close of 2.7600, a 50-day SMA of 2.9638 and a long SMA of 3.4626.
| Instrument | Close | SMA50 | Long SMA | RSI(14) | Trend status |
|---|---|---|---|---|---|
| WTI Crude Oil | 103.37 | 96.61 | 87.62 | 53.4 | bullish |
| Brent Crude | 123.10 | 114.21 | 97.34 | 52.1 | neutral |
| Natural Gas | 2.7600 | 2.9638 | 3.4626 | 42.0 | bearish |
Trend status is a rules-based classification of moving averages and MACD on daily closes (as of Nov 1, 22:41 UTC); it is not a recommendation.
In the news
Reuters published "FTSE 100 notches fourth straight day of gains as oil slides on US-Iran deal hopes" and "Freed from OPEC quotas, UAE says oil exports have risen as it hosts industry event." Reuters also published "COMMENTARY: Asia's crude oil imports back to pre-war levels but refined fuels lag" and "SNAPSHOT US stock index futures jump as oil falls about 6%."
- FTSE 100 notches fourth straight day of gains as oil slides on US-Iran deal hopes — Reuters, Nov 2, 17:46 UTC
- Freed from OPEC quotas, UAE says oil exports have risen as it hosts industry event — Reuters, Nov 2, 16:05 UTC
- COMMENTARY: Asia's crude oil imports back to pre-war levels but refined fuels lag — Reuters, Nov 2, 14:50 UTC
- SNAPSHOT US stock index futures jump as oil falls about 6% — Reuters, Nov 2, 14:00 UTC
Sources and data
- Reuters (secondary source) — FTSE 100 notches fourth straight day of gains as oil slides on US-Iran deal hopes
- Finnhub (market data) — market data
- U.S. Bureau of Labor Statistics (primary source) — calendar
- U.S. Energy Information Administration via FRED (primary source) — calendar
- Federal Reserve (primary source) — calendar
Market data as of Nov 2, 19:01 UTC; report generated Nov 2, 19:10 UTC. All times are UTC. Each table row shows its own timestamp and provider.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.
Terms in this article
Gold (XAU)
A precious metal held as a store of value, a hedge against currency debasement and a safe haven, as well as used in jewellery and industry.
Price-to-earnings ratio (P/E)
Share price divided by earnings per share.
Exchange-traded fund (ETF)
A fund that trades on a stock exchange like a share, usually tracking an index, sector, commodity or strategy.
WTI crude
West Texas Intermediate, a light, sweet (low-sulphur) US crude oil and the main US price benchmark.
Brent crude
The international crude oil benchmark, based on a basket of North Sea grades and traded as futures on ICE.
Sources & data
- Reuters (secondary, retrieved Nov 2, 2026, 07:14 PM UTC)
- Finnhub (market-data, retrieved Nov 2, 2026, 07:14 PM UTC)
- U.S. Bureau of Labor Statistics (primary, retrieved Nov 2, 2026, 07:14 PM UTC)
- U.S. Energy Information Administration via FRED (primary, retrieved Nov 2, 2026, 07:14 PM UTC)
- Federal Reserve (primary, retrieved Nov 2, 2026, 07:14 PM UTC)
Market data as of Nov 2, 2026, 07:01 PM UTC.
This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.
Ask about this story
Questions are answered only from this article and the sources it cites.
MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.
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