ASIA-PAC COMMODITIES UPDATE: Crude sees mild losses whilst metals trade sideways
Analysis details (02:48)
WTI and Brent December futures are mostly softer intraday after both contracts settled modestly firmer yesterday following the Dollar and risk-induced price action. Overnight, the contracts’ gains remain capped by the Private Inventory report which saw a larger-than-expected build in crude stockpiles, whilst the internals were mixed. The complex is also burdened by the sullied sentiment as index futures fell amid earnings from mega-cap stocks. WTI Dec resides just under USD 85/bbl while its Brent counterpart dipped under USD 93/bbl. Elsewhere, spot gold trades flat around the USD 1,650/oz mark after hitting a high of USD 1,662.80/oz yesterday with the yellow metal moving in tandem with the Buck. CME copper is relatively flat with the USD caged.
26 Oct 2022 - 02:48- Research Sheet- Source: Newsquawk
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