Oil futures held steady on Monday as a rebound in Libyan oil production over the weekend weighed against upbeat economic data from Asia that pointed to strong energy demand from the region.
Jiangxi Copper Co Ltd , China's biggest integrated copper producer, posted on Wednesday its first rise in annual net profit in five years, helped by cost controls and higher metal prices.
Oil prices rose further on Thursday, building on two days of increases after Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.
London copper climbed to its highest in more than a week on Wednesday, buoyed by brighter data from the United States and expectations of seasonally improving second-quarter demand. U.S. consumer confidence surged to a more than 16-year high in March amid growing labour market optimism while the goods trade deficit n
Oil prices extended gains on Wednesday despite an increase in U.S. crude inventories, lifted by Libyan supply disruptions and expectations of an OPEC-led output cut being extended.
Near the extinct volcano known as Monte Pissis, high in the Andes on the Chile-Argentina border, the air is thin and animal life scarce. It’s also a prime location for lithium, the silvery-white metal used in the production of lithium-ion batteries.
A severe disruption to Libyan oil supplies and comments from officials suggesting OPEC could extend its production cuts deal to the end of the year boosted oil prices on Tuesday.
Oil fell further toward $50 a barrel on Monday, pressured by uncertainty over whether an OPEC-led production cut will be extended beyond June in an effort to counter a glut of crude.
Copper rebounded from a near two-week low on Wednesday as investors took advantage of a correction to rebuild long positions amid persistent supply issues, including a strike at the world's biggest copper mine in Chile.
