📈 Oil and Copper Prices Diverge Sharply Since Late 2022

For much of the past two decades, oil and copper prices generally moved in tandem, driven by shared global demand factors. But from October 2022 to May 2025, that relationship broke down: oil prices fell by 31%, while copper prices climbed 25%, reflecting divergent supply dynamics and sector-specific demand—particularly copper’s rising role in electrification and green technologies.