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Copper, Crude Oil Prices Surge. Eyes on Fed Chair Jerome Powell for Next Moves 2021-02-23 06:00:00 Daniel Dubrovsky, Strategist Copper, Crude Oil, Fed Chair Jerome Powell, YCC, Commodities Briefing - Talking Points: Traders may be pricing in Fed yield curve control on medium-term rates All eyes on Jerome Powell as market sentiment improves to start Tuesday After Monday’s 1.64% gain, copper futures are one step closer to the best month since November 2016, where the red metal gained about 18.9%. At the time of writing, COMEX copper futures are up roughly 17.8% in February. Surpassing the performance in November 2016 would mean the best month since 2009. The rally in the red metal was not exclusive to it, as it was a generally bullish day for commodities and precious metals. ....
Crude oil prices drop as Texas output begins to recover after deep freeze Gold extended losses from December as it faces its lowest point since June Risk aversion may be picking up into the weekend, will momentum carry? Crude oil prices weakened over the past 24 hours after WTI spent most of this month rallying over 18 percent. Some of the temporary fundamental forces driving up energy prices seem to be fading. Power is being slowly restored in parts of Texas following extreme cold climate, opening the door to oil wells being restarted and bringing some supply back into a market that is ripe with demand. ....
Crude Oil Gains as Copper Prices Aim for 2012 High, Downside Potential Grows 2021-02-16 06:00:00 Daniel Dubrovsky, Strategist Crude Oil, Copper, Vaccination Milestones, Texas Winter Storm, Commodities Briefing - Talking Points: Crude oil rallied with stocks, Texas winter storm created supply woes Copper aiming for 2012 peak on high demand as US Dollar weakens China reportedly mulling rare earth export curbs to US defense sector WTI, copper uptrends remain, but distance to key trendlines a risk Growth-linked crude oil prices and copper futures aimed higher over the past 24 hours as market mood remained optimistic. This is as equities were closed for trading in China and in the United States amid the Lunar New Year and Presidents’ Day holidays respectively. In Europe, the Euro Stoxx 50 and FTSE 100 climbed as equities tracking futures on Wall Street followed. ....
Crude Oil Slips as OPEC, IEA Cut Demand Outlook, Gold Eyes US Stimulus 2021-02-12 03:00:00 Daniel Moss, Analyst Crude Oil, Gold, OPEC, IEA, Commodities Briefing – Talking Points: Crude oil ends 8-day winning streak as IEA, OPEC cut demand outlook. Gold slips on better-than-expected US jobless claims figures. Stimulus progress will likely determine the short-term trajectory of both commodities. Advertisement Crude oil ended its longest winning streak in two years overnight, after both the International Energy Agency (IEA) and Organization of the Petroleum Exporting Countries (OPEC) slashed their respective global demand outlooks. The IEA cut its forecast for oil consumption in 2021 by 200,00 barrels a day, stating that “renewed lockdowns, stringent mobility restrictions and a rather slow vaccine rollout in Europe have delayed the anticipated rebound”. ....