Crude oil futures hovered near three-week highs above $78 per barrel on Tuesday but slipped slightly despite heightened geopolitical tensions in the Middle East. Market reports said four more merchant vessels faced drone and missile attacks from the Houthis in the Red Sea since Friday. Meanwhile, the People’s Bank of China’s decision to reduce the five-year loan prime rate to 3.95% is aimed at stimulating credit demand for properties in China, while a significant increase in tourism revenue during China's Lunar New Year holidays, rising by 47.3% compared to the previous year and surpassing pre-Covid revenues in 2019, has also attracted market attention. As one of the major consumers of crude oil globally, these economic developments in China could potentially boost demand for the commodity...

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  (01-Jan-16 10:03)

  Technical Comment for the Day: Copper
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  Technical Comment for the Day: Crude Oil
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  Commodities Buzz: Indonesia's Palm Oil Exports to Fall on Biodiesel Program
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  (01-Jan-16 10:29)

  Technical Comment For The Day: Gold