ASIA-PAC COMMODITIES UPDATE: Oil holds onto geopolitical gains, gold feel’s the Dollar’s pressure
Analysis details (01:55)
WTI Dec and Brent Jan are flat intraday after futures notably picked up gains in the NY afternoon amid the Druzhba pipeline halting Russian oil deliveries and the reports of missiles landing in NATO state Poland which killed two people. WTI Dec trades on either side of USD 87/bbl and Brent remains just under USD 94/bbl. Spot gold is modestly softer and moves in tandem with the Dollar around the USD 1,775/oz mark. Base metals meanwhile are relatively flat/mixed, with LME copper finding resistance around the USD 8,500/t region.
16 Nov 2022 - 01:54- MetalsGeopolitical- Source: Newsquawk
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