From Investing.com: 2025-05-29 01:32:00

Oil markets strengthened as sanction risks against Russia increased, while hopes for a US-Iran nuclear deal waned. US Court blocked Trump’s tariffs, prompting appeal. OPEC+ set to increase output levels, focusing on defending market share. API data showed US crude inventories fell, mixed for refined products. Investment funds increased net long in TTF, largest position since April.

LME copper inventories at a 2-year low, withdrawals continue in Rotterdam. Glencore withdrawing Russian copper for delivery to China. SHFE copper inventories lowest since 2022. Tariff risks and China’s outlook drive copper price volatility. Speculators decreased net long position in copper, while bullish bets for zinc rose to highest since April 2025.



Read more at Investing.com: Crude Oil: Court Ruling Against Trump Tariffs Pushes Prices Higher