Copper hits record $14,736 as Dow slips on Saudi energy strikes

By Business & Technology Global · Tue Sep 08 2026

Copper hits record $14,736 as Dow slips on Saudi energy strikes

Three-month copper on the London Metal Exchange jumped to a record on Tuesday as U.S. stocks reopened lower and Houthi strikes on Saudi energy targets pushed oil back toward $100.

Copper cathodes associated with London Metal Exchange trading — illustrative of the metal that hit a record on Sept. 8. Wikimedia Commons.
Copper cathodes associated with London Metal Exchange trading — illustrative of the metal that hit a record on Sept. 8. Wikimedia Commons.

Copper’s tariff magnet

Reuters said metal has kept flowing into the United States ahead of possible tariffs, tightening visible supply elsewhere and amplifying the LME spike. For manufacturers already paying elevated power and shipping costs, another record print is a margin problem, not a curiosity.

Ras Tanura oil facilities, Saudi Arabia — regional energy infrastructure in focus after Houthi strikes on Saudi targets. Wikimedia Commons.
Ras Tanura oil facilities, Saudi Arabia — regional energy infrastructure in focus after Houthi strikes on Saudi targets. Wikimedia Commons.

Gulf risk returns to the oil complex

Yemen’s Iranian-backed Houthis attacking Saudi energy facilities and cities was the overnight catalyst for the crude jump. That threat geometry lands closer to Saudi processing and export nodes that feed global product markets.

Wall Street street sign, New York — U.S. equities reopened after the holiday with the Dow lower in early trade. Wikimedia Commons.
Wall Street street sign, New York — U.S. equities reopened after the holiday with the Dow lower in early trade. Wikimedia Commons.

Rates still the equity governor

Money markets still priced roughly a 58% chance of a Fed hike at the next meeting, Reuters said, with Friday’s U.S. inflation data as the near-term hinge. The European Central Bank is widely expected to lift euro-zone rates a quarter point on Thursday. Commodity strength and sticky yields are a nasty pair for duration-sensitive tech multiples.

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