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Updated · Bloomberg · Jun 3Copper Falls Below $14,000 a Ton as Iran War Tensions Escalate
3 articles · Updated · Bloomberg · Jun 3
- Three-month copper futures slipped back below $14,000 a ton, retreating from a three-week high after a 3% gain in the first two sessions of the week.
- Pessimism over prospects for a deal to end the Middle East war drove the pullback as traders reassessed risk appetite.
- Regional tensions stayed elevated with an Iranian attack on Kuwait and US strikes targeting Qeshm Island, reinforcing the market's defensive turn.
Beyond oil, which critical commodity's supply chain is most threatened by the escalating Middle East war? As the Strait of Hormuz blockade continues, can emerging supply routes avert a deeper global economic crisis?