Commodity Roundup: Brent futures hit 2-week low, gold trades near record high [Seeking Alpha]
COMMERZBANK JUNGE ADR NEW (CRZBY)
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Source: Seeking Alpha
weighing a poor demand outlook against the backdrop of geopolitical and economic uncertainties. Brent crude oil ( CO1:COM ) futures hit a two-week low of $74 per barrel, following a 4.1% decline in the previous session. However, Citi analysts said in a new report that oil prices could surge into the triple digits if supplies are disrupted by an elevated Middle East conflict, despite weak oil market fundamentals. Easing geopolitical risks also weighed on global gas prices. "The European gas benchmark futures were down as much as 4% as the market subsequently discounted the risk of supply disruptions," ANZ Research said. A broader conflict across the region had raised the prospect that Iran would disrupt the flow of gas through the Strait of Hormuz. Other supply risks were also in focus as EU energy ministers meet to discuss gas imports from Russia. ETFs: ( NYSEARCA: USO BNO UCO SCO USL DBO DRIP GUSH USOI UNG BOIL KOLD UNL FCG "The end of a supply agreement between Russia and
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