Commodities: Prices supported by the USD weakness - BNZ

All commodity prices are being support by the US Dollar weakness and risk averse financial markets at present, according to analysts at BNZ.

Key Quotes

“Oil Prices are fluctuating around $50/barrel, stalemated between increasing US production, offset by OPEC production cuts and falling US crude stocks.”

“An impending hurricane threat causing the evacuation of platforms in the Mexican Gulf may affect short term US production.”

“Metal Prices at very high levels, mostly on China demand, reduced inventory and multiple supply disruptions.”