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Energy Prices Sink as EU Plan to Curb Costs Takes Shape

COMMODITIES
Commodity markets are lower, running in tandem with equity markets, ahead of the NY crossover. The EU's plan to curb power and energy prices continues to take shape, with a spokesperson this morning outlining that price caps, windfall taxes and demand reduction tools are being considered. A full plan will be presented on September 14th. Dollar strength is adding extra weight to commodity markets, with the USD Index nearing cycle highs and the best levels since 2002.
  • WTI Crude down $2.28 or -2.55% at $87.63
  • Natural Gas down $0.11 or -1.17% at $9.031
  • Gold spot down $8.72 or -0.51% at $1702.73
  • Copper down $8.3 or -2.36% at $343.9
  • Silver down $0.29 or -1.62% at $17.6884
  • Platinum down $6.51 or -0.77% at $840.85

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