Commodities Corner: Oil Prices Jump; Soybean Hits A 8 Week Low | Business News | ET Now

Oil prices jumped ~3% in early on MondayOPEC+ considers cutting output by more than 1 million barrels a day Biggest reduction since the pandemic, in a bid to support the marketOil prices have tumbled for four straight monthsGold Steadies Above $1,650 as Safe Haven Appeal Creeps Back inCopper dropped as aggressive monetary tightening around the world has stoked fears of a global recession and dampened the demand.Soybeans Hits 8-week LowSoy stocks rose unexpectedlyUS stocks of soy rose to 0.274 billion bushels vs 0.256 billion bushels YoY.#commoditynews #commodityupdate #oilpricesVinnii Motiwala is here with more details