SHANGHAI, May 26 (SMM) - Crude oil prices rose today. As of 15:33 CST, WTI oil and Brent oil rose 0.36% and 0.18% respectively.
On the supply side, the crude oil market is focused on whether OPEC and Russia will fulfill their commitment to cut production. Russian Deputy Prime Minister Alexander Novak said on Thursday that OPEC+ is unlikely to take new steps at the first face-to-face meeting in six months to be held on June 4. The statement contradicted the previous signal from Saudi Arabia, which weakened the market's expectations of production cuts.
The U.S. dollar snapped its four-day winning streak. As of 15:34 today, the U.S. dollar index fell 0.14%.
As of the closing of the intraday trading, SHFE base metals prices closed with gains, with SHFE aluminum up 3.38%. SHFE copper went up 2.17%, SHFE tin rose 2.16%, SHFE nickel jumped 1.27%, SHFE zinc went up 0.68%, and SHFE lead advanced 0.16%.
Ferrous metals prices generally rose, except for coking coal and coke which fell by 2.02% and 1.39% respectively. Iron ore rose 3.96%, hot-rolled coil rose 1.75%, stainless steel rose 1.71%, and rebar climbed 1.54%.
As of 15:39, LME metals rose across the board. LME zinc prices rose 1.63%, LME copper was up 1.31%, LME nickel was up 1.29%, LME aluminum climbed 0.85%, LME lead rose 0.51%, LME tin increased 0.42%.
In terms of precious metals, SHFE gold and SHFE silver fell 0.69% and 0.21% respectively.
As of 15:40, COMEX gold and silver rose 0.42% and 1.13% respectively.
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