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Expectations of OPEC+ production cuts sent oil prices up 4 percent to a four-week high, with Brent crude briefly rising above $
105.
The Iraqi Joint Operations Command announced that a curfew would be imposed in all provinces throughout Iraq, starting at 19:00 local time on the 29th and ending at an undetermined
time.
Iraq is OPEC's second-largest oil producer, and political turmoil in the country has added new variables to the oil market
.
European gas hoarding faster than expected, European natural gas fell 21% intraday, the biggest drop since April, and Germany's electricity price rose above a new high of 1,000 euros next year and turned down more than 28%.
The London metals market was closed on Monday for a public holiday, as the global economy stalled and sluggish demand weighed on industrial metals
.
Intra-market metals fell overnight, with Shanghai aluminum down 1.
5%, and Shanghai copper and Shanghai zinc both down about 1%.
High temperatures and drought have raised concerns about a poor U.
S.
corn harvest, with U.
S.
wheat futures up more than 4 percent and corn futures up more than 2 percent to a two-month high
.
