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:
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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.
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Sputnik International
here. there s the mubarak government maybe three, the u.s. and the people, the egyptian people. andy, the old adage that markets hate uncertainty, you can t get any more uncertain than they are right now. we saw oil prices surge, gold prices up. this is something that international investors look to as a geopolitical risk that cause them to reassess where they re putting their money. there s a few things talking about, con tajing, contagion, yemen, tunisia, egypt. what s next. it s affected the price of oil a little bit. in contrast to iranian crisis several years ago, here, oil supplies are much tighter as the global economy recovers. so we ve seen it pop up. i mentioned, cotton and i mentioned wheat. yes, it does affect all these things. but on the other hand, u.s. stock market has been very high lately has trended up. so maybe this is sort of just a little breather here.