Group 1: Oil Market - Oil prices are rising due to supply-side "black swan" events, including reports of Transneft limiting pipeline storage and ongoing attacks on Russian refineries and Baltic oil terminals, leading to decreased refinery operating rates and global supply disruptions [3] - Geopolitical tensions in the Middle East, particularly Israeli airstrikes on Yemen's Hodeidah port, are further increasing risk premiums in the oil market [3] - The expectation of a Federal Reserve interest rate cut is boosting demand for oil, with WTI crude rising 1.9% to $64.52 per barrel and Brent crude at $68.47 [3] Group 2: Gold Market - Gold has reached a historic high of $3700 per ounce, driven primarily by expectations of Federal Reserve interest rate cuts and a weakening dollar [4] - The dollar index has fallen to a 10-week low, making gold, as a non-yielding asset, more attractive in a low-interest-rate environment [4] - Despite a slight pullback to $3688.72, the breakthrough above $3700 is a significant signal for long-term investors [4] Group 3: Copper Market - Copper prices fell 0.59% to $10126.5 per ton after reaching a 15-month high, attributed to cautious trading ahead of the Federal Reserve's decision [5] - The anticipated interest rate cut is expected to benefit copper prices by stimulating demand and weakening the dollar, but traders opted to take profits before the announcement [5] - Other metals like aluminum and zinc showed stable performance, indicating that overall demand has not deteriorated [5] Group 4: Market Overview - The fluctuations in commodity prices are influenced by multiple factors, including geopolitical risks (oil), monetary policy (gold), and short-term sentiment (copper) [6] - The current market is pricing in expectations for Federal Reserve interest rate cuts, with three key factors to monitor: the Fed's interest rate path, potential escalation of geopolitical conflicts, and the sustainability of demand recovery [6]