0839 GMT - Oil prices extend losses in early trading after Ukrainian President Volodymyr Zelensky agreed to work on a U.S.-drafted peace plan, easing geopolitical concerns. Brent crude is down 1.2% at $62.62 a barrel, while WTI is down 1.4% at $58.15 a barrel. Both benchmarks are headed for a weekly loss of around 3% as prospects of an oversupplied market continue to weigh on sentiment. Meanwhile, market watchers continue to closely monitor Russian flows as U.S. sanctions on Russia's Rosneft and Lukoil come into effect. "Any peace deal could have broader implications for the oil market," analysts at ANZ say. "If accompanied by the elimination of U.S. sanctions on Russian oil, it could release more oil onto the global market." (giulia.petroni@wsj.com)
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Iron Ore Prices Fall Amid High Inventory, Lower Demand -- Market Talk
0235 GMT - Iron ore prices are lower in early Asia trade, weighed by high inventory and lower demand. The demand has been weak recently given the lack of profitability of steel mills, Baocheng Futures analysts write in a note. The inventory remains higher and overseas shipments have been strong as well, both weighing on prices, they add. The most actively traded January iron-ore contract on the Dalian Commodity Exchange is 0.7% lower at CNY782.5 a ton.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
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Copper Falls Amid Uncertainty Over Fed Path -- Market Talk
0215 GMT - Copper prices fall in Asian trade, with the three-month copper contract on the LME down 0.3% at $10,710.00. The delayed September U.S. nonfarm payrolls report has led to more uncertainty over the Fed's December decision. "For those in favor of a pause in December, the report did not deliver evidence of a rapidly deteriorating labor market," ANZ Research analysts say in a note. But the data wasn't strong either. Meanwhile, China's housing market remains weak, denting construction activity and weighing on metals demand, ANZ adds. (sherry.qin@wsj.com)
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(END) Dow Jones Newswires
11-21-25 1140ET
