Copper Declines as Hormuz Setbacks Cloud Peace Deal Prospects

Copper fell after a turbulent weekend in the Middle East threw peace talks between Washington and Tehran into uncertainty just as their fragile ceasefire deadline approaches.

Coming off four weeks of gains, the red metal fell 0.5% to settle at $13,275 a metric ton on the London Metal Exchange, as most industrial metals dropped. Oil climbed on Monday, reversing some of last week’s steep declines, as fears for the global economy once again steered trade across commodities markets.