Why the Real Oil Squeeze Is Happening in -2-

0232 GMT - Copper prices are higher in early Asian trade, supported by tight near-term supply and expectations of constrained mine output, analysts say. The market remains broadly bullish, driven by a weaker dollar and firm supply fundamentals, Baocheng Futures analysts write in a note. Global copper-mine supply growth could turn negative, while insufficient capital spending is expected to constrain longer-term supply, they say. Copper's near-term outlook remains bullish, though high prices are increasingly weighing on demand and the market is likely to remain focused on the tug-of-war around recent highs, they add. The three-month LME copper contract is up 0.1% at $14,167.00 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

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