High stocks put energy commodity prices under pressure

The prices of most energy commodities fell in November as negative sentiment towards commodities in general, high stocks, a warm start to winter in the US and further announcements by China about reducing its carbon emissions weighed on prices. That being said, the moves were relatively small as markets’ attention was focused on the outcomes of the OPEC meeting (on 4^th December) and the UN climate negotiations (ending on 11^th December).