π Copper Hits All-Time High, Oil Nears $100
Copper prices reached an all-time high of $14,617/tonne on the LME on Tuesday. This rally is driven by tightening mine supply, shifting trade, and high demand from electrification and AI. Brent crude is approaching the $100/barrel mark due to geopolitical tensions in the Persian Gulf. This price surge raises inflation fears and could pressure the RBI toward a rate hike. Investors are buying stocks of benefiting copper miners and oil companies. π