Brent and WTI crude oil prices jumped 5% to $84/b and $80/b on Monday morning, as OPEC and its allies led by Russia announced a surprising output cut of 1

Silver extended recent gains on Thursday toward $24/oz, a level last seen at the end of January, as a softer U.S. dollar and lower bond yields drove demand for the precious metal, ahead of the U.S. inflation data due later Friday to gauge the Federal Reserve’s next policy move.

DXY-U.S. dollar index traded to a nearly two-month low of 102.50 on Thursday morning following two weeks of steep losses on the back of the recent collapse of several U.S. banks and the prospect of any pauses in the Fed’s rate hikes.

Both Brent and WTI crude jumped over 5% to $78/b and $73/b respectively on Monday following news that the Turkish port of Ceyhan stopped pumping crude from Kurdistan via an oil pipeline following an arbitration ruling in favor of Iraq against Turkey for transporting Kurdish oil without prior approval from Baghdad

Crude oil prices traded just above a 15-month low on Monday morning as market participants concern over more banking defaults around the world, following the worst banking crisis since the 2008 financial crisis

U.S. dollar falls across the board as investors have scaled back expectations for an aggressive 50-basis-point interest rate hike from the Federal Reserve at its March 22 monetary policy meeting following the recent turmoil in the banking and financial markets.