Crude Oil Lower On China Demand Worries

The crude oil price is lower on worries over demand in China. "Slump in the U.S. Dollar Index helped energy prices, but gains were limited on the China situation. China October exports unexpectedly fell -0.3% year-over-year. China import numbers were also not good. Also, U.S. Dollar weakness has appeared bullish for metals. Positions in gold ETFs dropped to 2.5 year lows on Thursday. Copper falls as China unexpectedly shrinks Covid curbs. Copper prices are expected to somewhat benefit from a tightening supply," says Larry Shover.

Futures

08 Nov 2022

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