From Investing.com: 2024-11-06 00:28:00

Oil prices have remained steady awaiting the outcome of the US election, settling above $75/bbl with a weaker dollar supporting the market. OPEC+ decision to delay supply increase and potential US Gulf of Mexico disruptions also prop up prices. Middle distillates strengthen, driven by jet fuel demand as winter approaches.

Copper and other industrial metals rise on hopes of more stimulus from China, with Premier Li Qiang stating government’s ability to drive sustained economic improvement. LME COTR report shows decrease in net bullish position for zinc and aluminium, while net bullish bets increase for nickel.

ISMA maintains India’s sugar output estimate at 33.3mt for 2024/25, sustaining ethanol blending program and increasing export chances. EU soft-sugar exports drop by 32% for the 2024/25 season. Agricultural data suggests potential increase in minimum sale price of sugar.



Read more at Investing.com: Crude Oil Prices Remain Steady as Markets Await US Election Outcome