Goldman Sachs said it expects to see a sustained supply deficit of crude oil starting in June as OPEC cuts production and demand rises further.
WTI oil rose for four consecutive days, and Brent oil advanced for three consecutive days. As of 15:08 CST, WTI oil and Brent oil were up 1.29% and 1.09%, respectively. As of 15:10, the U.S. dollar index fell 0.02%.
As of the closing of the intraday trading, SHFE tin and nickel rose 0.56% and 0.44% respectively, SHFE zinc fell 2.97%, SHFE copper dropped 1.3%, and SHFE lead dipped 0.1%;
Ferrous metals prices closed down across the board, with iron ore down 4.61%. Rebar prices slumped 3.51%, hot-rolled coil prices went down 3.11%, coke plummeted 2.67%, coking coal went down 1.91%, and stainless steel fell 0.75%.
As of 15:22, LME metals fell across the board. LME zinc dropped 2.36%, LME copper slid 1.7%, LME aluminium declined 1.46%, LME lead was down 0.68%, LME tin dipped 0.61%, and LME nickel dropped 0.39%.
In terms of precious metals, SHFE gold rose 0.26%, while SHFE silver fell 0.99%.
As of 15:24, COMEX gold and silver fell 0.03% and 0.76% respectively.
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