Commodity Market Updates, Nov 19: Crude oil futures fall on rising US inventories; Copper slips for 4th straight session

Crude oil futures

Crude oil futures on Wednesday, November 19, fell by ₹10 to ₹5,366 per barrel as renewed supply from Russia and rising US inventories weighed on investor sentiment.

On the Multi-Commodity Exchange (MCX), crude oil futures for December delivery slipped by ₹10, or 0.19%, to ₹5,366 per barrel in a business turnover of 11,935 lots.

Similarly, the January 2026 contract dipped by ₹3, or 0.06%, to ₹5,369 a barrel in 1,150 lots.

In the international markets, West Texas Intermediate (WTI) crude oil for December delivery was trading 0.12% lower at $60.67 per barrel, while Brent Crude for the January 2026 contract dipped 0.20% to $64.75 a barrel.

Investors turned cautious following the American Petroleum Institute (API) report, which stated that a large build in US crude inventories, showing an increase of 4.4 million barrels for the week ending November 14. Furthermore, traders will also be on the lookout for the Energy Information Administration (EIA) report.

The EIA, an independent agency under the US Department of Energy, publishes weekly inventory data tracking the volume of commercial crude oil held by US firms, offering a key gauge of market balance.

Copper futures

Copper prices extended losses for the fourth straight session in futures trade amid muted demand in the domestic market.

On the MCX, copper futures for the December contract decreased by ₹20, or 0.37%, to ₹5,356 per kilogram in a business turnover of 11,972 lots.

However, copper prices gained in the overseas markets. On the London Metals Exchange (LME), copper futures rose by $53.30, or 0.50%, to $10,751.30 per tonne. Similarly, the red metal futures on Comex also went up by 0.32% to $4.98 per pound.

“Traders are likely to stay cautious ahead of key US data releases later this week, which could provide further impetus for industrial metals,” PTI said, quoting an expert.

Aluminium futures

Aluminium prices rose by ₹1.10 to ₹264.20 per kilogram in the domestic futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the MCX, aluminium for delivery in November went up by ₹1.10, or 0.42%, to ₹264.20 per kilogram, in a business turnover of 1,974 lots.

Similarly, the December contract advanced by ₹1.05, or 0.39%, to ₹267.80 per kg, in 1,740 lots.

Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Zinc futures

Zinc prices increased by ₹1.85 to ₹302.95 per kilogram in futures trade amid a pick-up in spot demand.

On the MCX, zinc contracts for November delivery traded higher by ₹1.85 or 0.61% to ₹302.95 per kilogram with a business turnover of 2,592 lots.

The December contract increased by ₹1.65, or 0.56%, to ₹295.95 per kg in 1,236 lots.

Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries, kept zinc prices higher in the futures trade.