Monday

The group reached the deal following days of intense negotiations after Mexico declined to endorse the original agreement reached Thursday. While the OPEC+ deal amounts to the largest coordinated cut in history, it’s dwarfed by the estimated 20 million barrels a day or greater decline in oil consumption as a result of the coronavirus pandemic.” By the end of the trading day, front month NYMEX crude oil futures eased to around $22.60 per barrel while COMEX copper futures were up 2.7% to $2.32 per pound after having traded as high as $2.353/lb. earlier in the day. In London, the LME was closed today for Easter Monday but trading resume tomorrow. On Wall Street, the Dow Industrials fell by 1.4% (-328.6 points) on Monday while the Nasdaq gained 38.85 points to close 0.48% higher.