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The Commodities Feed: Operational issues tighten copper supply
ICE Brent has been trading softer this morning after settling above US$90/bbl yesterday. The uncertainty around the Israel-Hamas conflict continues to be the major driving force behind the volatile crude oil prices currently. The sell-off in the broader financial market also appears to be weighing on crude oil prices today. Weekly inventory numbers from the EIA were soft, with crude oil stocks rising last week. Commercial crude oil inventories increased by 1.4MMbbls over the week, driven by firm imports, slow exports, and softer domestic demand. Earlier, API reported an inventory withdrawal of 2.7MMbbls while the ... (full story)