Markets, 13 November 2026
Friday: Brent near $95, copper around $13,689, Gulf stocks closed higher on Thursday
What moved
- Oil. Brent is around $95.41 and WTI around $88.18, each down about 0.4% to 0.6% on the day. Brent is down about 3% on the week and 9.9% on the month. Contract rolls can distort monthly figures, so treat those as rough. These are live quotes.
- Copper and aluminium. COMEX copper is around $13,689 a tonne, up 0.26% on the day, down 0.5% on the week and down 6.1% on the month. Aluminium is around $3,155 a tonne, up 0.6% on the day.
- Steel. US Midwest HRC is around $1,544 a tonne (12 November), down 1.9% on the day but up 7.4% on the month. Shanghai rebar is at 3,036 yuan a tonne, up 0.2%. Zinc is stale: the last update is 23 October ($3,944).
- Gold and the dollar. Gold is around $3,925 an ounce, up 1.1% on the day but down 3.7% on the week. The dollar index is around 103.13, up 0.8% on the week.
- Stocks. On Thursday the S&P 500 closed at about 7,592 (down 0.3%) and the Nasdaq at about 25,366 (down 0.4%). Emerging markets (EEM) fell 1.5% to 61.14. Dubai’s DFM closed at about 6,235 (up 0.2%, and up 3.2% on the week) and Abu Dhabi’s ADX at about 9,726 (up 1.5%).
- Rates. The latest Treasury yields are from 10 November: the 2-year at 4.73% and the 10-year at 4.98%, both up on the day (17 and 10 basis points) but down on the month. The monthly US PPIs for copper wire and cable, steel wire drawing and cement are still the September figures.
The truth: Oil bounced back toward $95 after a rough week, so I wouldn’t read the slide as a trend yet. Copper is steady and still well down on the month, so conductor buyers keep some relief and may keep waiting. HRC is off a little today but up about 7% on the month, so steel-based lines like wire, mesh, fencing and rebar still need short quote validity. A firmer dollar matters little for the pegged dirham but makes inputs priced in other currencies dearer. Gulf stocks are firm, and the jump in yields is old data from 10 November, so I’m watching it before saying financing is getting harder. Not investment advice.
Sources and as-of dates for every number are on the Markets board.