ASIA-PAC COMMODITY UPDATE: Crude attempts to claw back recently lost ground but metals are more caged

Analysis details (02:31)

WTI and Brent January contracts are firmer intraday and back on USD 82/bbl and USD 90/bbl handles respectively following hefty selling in the US session on account of several factors, such as the risk-off sentiment, which resulted in a strong Dollar, and Nigeria's Forcados crude oil terminal resuming loading. Spot gold sees modest gains above USD 1,750/oz after declining from a USD 1,774.80/oz high yesterday, with little action seen to reports that North Korea fired a suspected ICBM. CME copper is flat intraday after finding some resistance at USD 3/lb.

18 Nov 2022 - 02:31- Research Sheet- Source: Newsquawk

Subscribe Now to Newsquawk

Click here for a 1 week free trial

Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: