Oil and Base Metals Lead Commodity Rallies as Hopes on Global Growth Revive

Crude oil price strengthens further in European session as EU leaders and the IMF pledged a package worth 750B euro to end the debt crisis. Currently trading at 78, the benchmark contract for WTI crude jumped as much as +4.53% from last Friday's close which was near a 12-month low. Investors also find current level attractive after it's been sent -12% lower last week. Base metals also gain as led by rallies in copper (+3.3%) and nickel (+4.8%).

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Oil and Base Metals Lead Commodity Rallies as Hopes on Global Growth Revive