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Mixed Performance for Oil, Copper Outperforms

COMMODITIES

Oil markets are mixed, with the November rally holding for most contracts. WTI futures still sit just above the $45/bbl mark, with nearest support cutting under at $43.28, the 23.6% retracement of the November rally.

Copper futures cleared the 2017 highs this morning to mark the best level for the metal since 2013. Stops appear to have been triggered on the way through 2017's 332.20, with support stemming from further evidence of Chinese demand, as Shanghai stockpiles continue to deplete, falling to their lowest levels in over 5 years.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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