Yup, definitely a surprise given the reports earlier in the day suggesting he would announce a full resignation.
If he had followed through with such a public announcement today then I would have expected to see a good sell-off in crude and PM's in the coming days. With this new development, uncertainty will remain the order of the day near-term. Mubarak is a stubborn SOB hangin' on like he is...power is a seductive drug no doubt.
For now, I'll stay on the sidelines with the whole 'risk trade' as any surge up in those sectors could dissappear in a heartbeat on 'good' news. Might see a viable shorting opportunity in the commodity sector when a peaceful resolution comes to pass, which I anticipate will happen within weeks...too much pressure from too many corners for that not to happen ultimately.