Tuesday extended Monday's pattern: oil continued its run, Treasury yields broke through 5% to their highest level since 2007, and equities fell again as the market positioned itself for Wednesday's Federal Reserve decision. WTI crossed $105 per barrel during the London session, triggering the early warning signal this morning's briefing defined as the confirmation that institutional desks are no longer waiting for Aramco's repair guidance. That level mattered. The East-West pipeline remains shut with no official Saudi timeline, Libya's Petroleum Facilities Guard has suspended flows through a separate crude pipeline, and the Hormuz constraint remains. Three supply disruptions running simultaneously with 24 hours until the FOMC decision is the environment the session closed in.
Gold failed to recover from $4,284, reaching toward $4,350 during the London morning before retreating as Treasury yields pushed higher. Silver drifted toward $62.82 with the session low testing the target zone called at the open. USD/JPY held below 155.20 and GBP/JPY closed below 208.00 for a second consecutive session.
The full briefing carries the complete framework for tomorrow: where to position the WTI long through Wednesday's volatility, when to add to the USD/JPY short versus when to exit, the precise gold level that signals the dot plot has shifted the narrative, and exactly why EUR/USD's crowded short makes it the week's most dangerous pair to be short into the press conference. Everything resolves in the next 18 hours. Subscribers to Markets Mastered's full evening recap have the levels, the logic, and the execution guidance to navigate it.