WTI Consolidated after Touching US$ 60/bbl; Copper Rallied to Almost 4-Year High

WTI crude oil consolidated recent gains after price reached psychological level of 60 on Wednesday. Currently trading at 59.7, the front-month WTI contract is prone to record about +10% gain this year, compared with the lucrative +45% rally in 2016. The corresponding Brent crude contract also pulled back mildly after soaring to an 8-year high of 67.1 on Tuesday.

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WTI Consolidated after Touching US$ 60/bbl; Copper Rallied to Almost 4-Year High