OIL settled up 2 per cent on Thursday (Jun 6) after the European Central Bank (ECB) opted to cut interest rates, spurring hopes that the Fed will follow suit, and Opec+ ministers reassured investors the latest oil output agreement could change depending on the market.
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Jeff Currie, Chief Strategy Officer at The Carlyle Group and former Global Head of Commodities Research at Goldman Sachs, has declared that copper is the new oil.
The electric vehicle, Artificial Intelligence, power infrastructure and automation boom will drive at least 10 million metric tons of additional copper demand by 2035