EghtesadOnline: It is widely believed that the new round of sanctions imposed by the administration of US President Donald Trump on Iran's industrial metals will have little impact in practice.

EghtesadOnline: Oil climbed as a political spat between several energy-producing nations in the Middle East escalated, while a slide in industrial metals dragged European stocks lower. The pound pared earlier losses in the wake of a terror attack in London.

EghtesadOnline: The dollar slumped after Donald Trump in his first days in office offered little news on his plans to boost growth while stirring concerns over protectionism. Metals and Asian shares outside of Japan rose.

EghtesadOnline: Oil jumped on optimism OPEC will agree to a supply-cut deal, while Asian equities and industrial metals rebounded from last week’s losses. The dollar held near a January high, with traders all but convinced the Federal Reserve will pull the trigger on a rate hike in December.