Copper Falls to Two-Week Low Amid Profit-Taking and Rising Oil Prices

Copper prices tumbled to a two-week low on Tuesday as investors cashed in their gains after the metal's record-breaking run earlier this month.

The broader metals market continued to feel pressure from rising oil prices, which kept concerns about inflation and interest rates at the forefront.

This comes as the prospects for a new agreement between the US and Iran dimmed following President Donald Trump's statement that he was not interested in extending the interim peace deal.

Despite this, signs of tightening global copper supply continued to provide some support for prices, as the metal remains in high demand globally, particularly in the US and China where supplies are becoming increasingly scarce.