Crude oil prices ended their four-day consecutive rally as investors monitor market supply signals and the market disruption caused by President Trump's dismissal of Federal Reserve Governor Cook. The move to dismiss Cook also weighed on the dollar, boosting gold prices. London copper prices advanced.

**Crude Oil: Oil Prices Decline, Ending Four-Day Rally**

Crude oil retreated on Tuesday after four consecutive days of gains, as investors await clearer supply signals while also monitoring the broader market impact from President Trump's attempt to dismiss a Federal Reserve governor.

WTI crude fell 2.4%, marking its largest decline since early August, closing near $63 per barrel, remaining within the $62-65 range where it has traded for most of this month. Tuesday's oil decline reflected broader financial market caution toward risk assets sparked by Trump's attempt to dismiss Fed Governor Cook.

The U.S. Department of Homeland Security issued a notice on Monday outlining plans to implement 50% tariffs on Indian products to penalize India for purchasing crude oil from Russia. The measure takes effect starting Wednesday and is viewed as part of Trump's broader efforts to broker peace between Russia and Ukraine. However, given Trump's history of reversing trade threats, many investors remain skeptical about the likelihood of these tariffs actually being implemented.

During a cabinet meeting on Tuesday, Trump expressed appreciation for oil prices falling to near $60 per barrel, adding that prices would quickly drop below that level, though he did not specify what factors would drive this decline.

Trading activity slowed as the U.S. Labor Day long weekend approaches, exacerbating market volatility.

October WTI crude futures on the New York market fell 2.4% to close at $63.25 per barrel.

October Brent crude declined 2.3% to $67.22 per barrel.

**Precious Metals: Gold Prices Rise**

Gold advanced as Trump's action to dismiss Federal Reserve Governor Lisa Cook raised concerns about central bank independence.

After Trump announced his decision to dismiss Cook on his Truth Social account Monday evening, the dollar fell against all major currencies, though the decline narrowed after Cook stated that the president has no authority to fire her and vowed not to resign.

If Cook, who is facing mortgage fraud charges, is forcibly removed, Trump would be able to secure a four-seat majority on the seven-member Federal Reserve Board.

Charu Chanana, strategist at Saxo Capital Markets Pte., noted that any new appointees would be viewed as closely aligned with Trump's demands for looser policy. For gold, this means support not only from market expectations of increased rate cuts but also from investors' hedging purchases based on long-term inflation and institutional risk considerations.

As of 3:30 PM ET, spot gold rose 0.67% to $3,388.57 per ounce.

**Base Metals: London Market Copper Prices Rise**

As of London market close:

LME copper futures rose 0.41% to $9,837.0 per ton;

LME aluminum futures gained 0.51% to $2,638.0 per ton;

LME nickel futures advanced 1.23% to $15,285.0 per ton;

LME zinc futures fell 0.16% to $2,813.5 per ton.