ING Economic and Financial Analysis 4. 92K Follower s Comments Summary The oil market received a boost from a broader risk-on move, with equities rallying and the market pricing in a higher probability of the US Federal Reserve cutting interest rates on 10 December. European gas prices came under further pressure yesterday, with the Title Transfer Facility (TTF) trading below EUR30/MWh to its lowest level since May 2024. A majority Chinese-owned Indonesian nickel plant, QMB New Energy Materials, is cutting back production for at least two weeks because its tailings site is nearly full, according to Bloomberg. London cocoa came under further pressure yesterday, with the front-month contract falling below GBP3, 700/t at one stage, and trading at its lowest level since January 2024. By Warren Patterson, Head of Commodities Strategy and Ewa Manthey, Commodities Strategist Oil prices rose yesterday, in step with a global equity rally. However, peace talks remain a crucial area of uncertainty for the market. Energy: Oil rises This article was written by 4. 92K Follower s From Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING. com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals’ comments. Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. This publication has been prepared by ING solely for information purposes without regard to any particular user’s investment objectives, financial situation, or means. For our full disclaimer please click here. Comments Recommended For You.
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Commodities: Risk-On Trade Pushes Oil Higher
