Commodities Wrap: Oil Rally Pauses, Copper Slips, Gold Trims Losses

Deep News
10小时前

Oil held steady after a three-day advance as traders locked in profits following the recent run-up, while supply threats from the Middle East to Russia continued to linger.

Copper prices moved lower as a selloff in AI-related shares weighed on market risk appetite.

Gold pared its decline after the New York Fed president said he currently sees no need for rate hikes next year.

Crude Oil: Rally Takes a Breather as Traders Book Profits, Middle East and Russia Supply Risks Persist

Oil steadied after three consecutive gains as traders took profits following the recent advance, with energy supply threats from the Middle East to Russia still unresolved.

Brent crude edged slightly lower, settling below $106 a barrel, while WTI posted a marginal gain. Apart from the modest divergence between Brent and WTI, the market lacked clear direction throughout the session.

With no major developments to act on, investors used the pause to adjust positions.

Saudi Arabia intercepted several more missiles and drones launched by Yemen's Iran-backed Houthi rebels on Tuesday, with little sign of the conflict easing.

Market participants are watching whether the violence could jeopardize crude shipments from the region's largest oil exporter.

At the same time, a surge in Iranian attacks on vessels transiting the Strait of Hormuz is threatening the recent recovery in Persian Gulf oil exports.

Amid Middle East supply disruptions, crude has climbed more than 70% this year, with refined products such as diesel posting even larger gains.

To curb soaring prices, U.S. President Donald Trump recently announced a controversial Russian diesel deal as well as an energy ceasefire agreement between Moscow and Kyiv.

The energy ceasefire appeared to catch both the Russian and Ukrainian leaders off guard, and Trump acknowledged on Monday that neither side had actually committed to halting strikes on the other's energy infrastructure.

"The prospect of additional Russian diesel supply capped today's oil price action, but the market is skeptical of the deal," said Mark Hackett, chief strategist at Nationwide Funds Group.

Meanwhile, Russian crude exports fell again as heightened security concerns slowed operations at a key Black Sea port.

WTI for November delivery rose 0.4% to settle at $94.14 a barrel. Brent for December delivery fell 0.9% to settle at $105.69 a barrel.

Base Metals: Copper Drifts Lower as Market Weighs AI Investment Concerns Against Supply Risks

Copper prices swung lower as the market weighed worries about overheating AI infrastructure investment against supply risks.

Global AI and technology shares declined following a series of warnings that the rapid expansion of data centers will become increasingly difficult to finance.

Copper bulls argue that AI infrastructure will be a major source of demand over the next decade, so any doubts about the pace of related spending could dent sentiment.

At the close, LME copper fell 0.3% to $14,578 a ton; LME aluminum dropped 0.4% to $3,039 a ton; LME nickel slipped 0.2% to $15,587 a ton; LME zinc declined 0.7% to $3,731.50 a ton; LME tin fell 2.7% to $51,767 a ton; LME lead rose 1% to $1,902 a ton.

Precious Metals: Gold Narrows Losses After Williams Comments

Gold pared its decline after New York Fed President John Williams said he still considers one more rate hike this year appropriate, but now sees no need for increases next year.

Gold fell as much as 0.6% before recovering to around $4,164 an ounce.

With oil price volatility and the U.S. interest rate outlook in focus for traders, gold lacked clear direction.

"Williams' comments should be bullish for gold, as they reduce the risk of higher holding costs later in 2027," said Bart Melek, global head of commodity strategy at TD Securities.

As of 6:24 p.m. Eastern time, spot gold fell 0.3% to $4,160.74 an ounce. Spot silver dropped 1.8% to $59.1546 an ounce.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10