ASIA-PAC COMMODITIES UPDATE: Oil prices take a breather after gaining yesterday on the OPEC+ decision and geopolitics
WTI/Brent: WTI Jan'26 +0.1% / Brent Feb'26 +0.1%
- Oil prices are rangebound and took a breather after gaining yesterday following the OPEC+ decision to maintain output throughout Q1 2026 and continued Ukrainian attacks on Russian oil refineries. On the geopolitical front, President Trump was reported to hold a meeting with the national security team on Venezuela in which many options were said to be on the table.
Gold: -0.3%
- Mildly retreated and briefly tested the USD 4,200/oz level to the downside with headwinds seen as copper and silver prices pulled back from recent peaks.
Copper: -1.0%
- Continued its pullback despite the mostly positive risk tone, with LME prices on a comedown from all-time highs.
02 Dec 2025 - 03:25- EnergyGeopolitical- Source: Newsquawk
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