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CRUDEOIL prices steady as China COVID worries outweigh supply concerns.
CRUDEOIL prices were little changed on Wednesday as COVID-19 cases in China continued to climb, sparking worries of lower fuel demand in the world’s top crude importer, and outweighing concerns about an escalation of geopolitical tensions and tighter oil supply.
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Gold prices hovered near three-month highs on Tuesday as mixed signals from Federal Reserve officials on the path of U.S. interest rates kept the dollar pinned to recent lows, while copper prices sank as rising COVID-19 cases in major importer China pointed to more potential demand disruption.
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Oil prices fell in choppy trade on Tuesday and nursed steep losses this week as weak economic data from China brewed more concerns over worsening demand, although the prospect of smaller U.S. rate hikes and tightening supply helped limit losses.http://@7906054932 www.venuscommodity.com
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Today, on November 15, the SHFE benchmark aluminium price has escalated by US$3 per tonne or 0.11 per cent to rest at US$2,668 per tonne.
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