Copper Rises to 13-Month Highs on Favorable Supply-Demand Dynamics
The commodity extends its gains to the highest since January 2023, helped by China’s recovery that boosts demand prospects, amidst supply disruptions
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The commodity extends its gains to the highest since January 2023, helped by China’s recovery that boosts demand prospects, amidst supply disruptions
USOil comes from a profitable month and quarter, largely due to supply disruptions and the latest upbeat factory data from China support it today
XAU/USD consolidates its recent gains as hot PPI exacerbates the sticky inflation theme and complicates the Fed policy path, ahead of next week’s decision
USOIL moves higher after the International Energy Agency raised its 2024 forecast for demand and lowered the one for output
Copper rose to the highest levels in nearly a month after Chinese smelters have reportedly agreed to cut output, amidst broader supply concerns
NGAS post a recovery this week, as major drillers slash production outlook and the International Energy Agency forecasts an acceleration in demand
The commodity could not benefit from the OPEC+ supply cuts extension and faces pressure today as China’s economic targets fail to impress
This year gold has reasserted its inverse relationship with the real yield. Currently the precious metal has a -67% correlation coefficient to the 10-year real yield and given that the market is pricing in four rate cuts for 2024 (beginning in June), gold’s potential upside cannot be overlooked.
OPEC and allies led by Russia agreed to rollover their recent additional 2.2 mbpd of cuts into the second quarter of the year to support oil prices
USOil rejected key resistance after a big increase in US inventories and the heightened 2024 supply growth forecast by the International Energy Agency
Oil prices rose last week as western commercials vessels continued to be attacked in the Middle East, while a hit against US outpost in Jordan resulted to three fatalities
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