From Investing.com: 2024-12-12 03:57:00

Oil prices have been supported by reports of potential US sanctions against Russia, which may target oil. ICE settled 1.8% higher, with ongoing strength. US CPI data suggests a Fed rate cut. EIA reports a 1.43m barrel crude inventory drop. OPEC revises down demand growth forecasts. European gas prices fall on milder weather forecast.

Chile’s Cochilco predicts a copper surplus in 2025. Global refined copper market to remain in a surplus. Chinese demand to rise marginally, rest of the world to see growth. Chilean copper output to increase by 6% YoY in 2025. Project delays may impact this year’s production target. Chile aims to strengthen domestic smelting capacity.

Arabica coffee prices drop due to uncertain Brazilian crop outlook. Drought conditions caused record highs. Rain in growing regions will determine crop outcome. Arabica coffee stocks at port warehouses increase. ING’s publication for information purposes only, not investment advice. Follow link for more details.



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