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Commodities

Trump vs. Biden buffets oil, gold and rare-earth markets

President's hospitalization led to sharp move in commodity prices

U.S. President Donald Trump, left, and former Vice President Joe Biden are both keen on securing rare-earth metals. (Nikkei montage/AP/Reuters)

TOKYO -- When U.S. President Donald Trump dropped a bombshell on Twitter in the wee hours last Friday, announcing that he and his wife had tested positive for COVID-19, U.S. crude oil futures promptly tumbled nearly $2 a barrel.

They are still hovering around $38, down 5% from the end of September.

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