Commodities Update 60

Commodities Update 60

16. marraskuuta 2016

Important legal information

Oil prices continue to drop. WTI and Brent oil price at USD 42.70 and USD 44.15 per barrel which represents a three-month low. Even though demand in oil is only slightly increasing, the oil production continues to grow. OPEC recently published data confirming that the global oil market will be oversupplied by 950.000 barrel per day.

After a short peak at USD 1,337.48 per ounce following the election of Donald Trump last Wednesday, gold prices continued to drop. At the beginning of this week prices came to a five-month low at USD 1,212.90 per fine ounce before stabilizing.

The assumption that Trump will invest in infrastructure accounted for a rise in demand for commodities. After the election copper and other industrial metals priced higher than in the previous months. Last week copper priced at USD 2.734 per pound and opened with USD 2,509 this Monday, which represents a 17-month high.

 

28.10.2021 11:00:55