Oil market steady over $65/bbl, Chinese demand down, US gas prices drop, aluminium price down

From Investing.com: 2025-05-20 01:11:00

Oil prices remained steady above US$65/bbl after the Trump-Putin call yielded no breakthroughs. Chinese oil demand fell, with refiners processing less crude in April. US gas prices dropped over 6.6% due to strong injections and cooler weather forecasts. LME aluminium inventories surged, leading to a 1% price drop. Chinese aluminium output hit a record high last month. US crop progress is ahead of schedule, with corn plantings at 66% and winter wheat in good condition. This suggests CBOT corn prices may remain under pressure.



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