Oil markets pause as Trump-Xi Beijing meeting looms. Traders are holding their positions, waiting to see whether the U.S. and Chinese leaders can reach agreements that might ease tensions, particularly regarding Iran policy and its potential impact on crude supply. Meanwhile, copper has surged above $14,000 per ton, approaching its all-time high set in January, signaling strong industrial demand. In precious metals, India doubled import tariffs on gold and silver, reflecting domestic policy shifts. The Indian government also banned sugar exports through September to protect domestic supplies. These commodity movements reflect broader geopolitical and trade uncertainties that are shaping market sentiment across energy, metals, and agricultural sectors.
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