Crude oil prices are steady and holding around their two-week highs on the back of supply disruption concerns at the Red Sea.
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Welcome back you’re still tuned into Power breakfast let’s get a check on how the commodity space is looking Manisha joins us uh hi Manisha good morning you know we were just talking about the fact that there has been a bit of profit taking a bit of a pullback across Global
Equity markets how are the Commodities looking well it has been a similar scenario here as well uh when you look at the crude oil prices we are still holding around that two we Highs but slightly off from where we were trading in the markets yesterday there still are
Supply disruption concerns at the Red Sea but the fact that the US inventories have surged when it comes to crude and gasoline both and much more than what the street was anticipating is Weighing on to the markets in addition to that the US crude production is at a record
13.3 million barrels per day so markets are looking at Supply disruptions on the one side but the non OPEC crude production continues to away much on the higher side in metals uh you have the gold prices still holding above $2,000 per ounce markets actually have have
Come to a stand still because it’s going to be about the uh us pce data that the street is waiting for right now well gold is taking support from the fact that there are geopolitical concerns there is safe haven buying it is US elections the next year so but much than
Just keeping above $2,000 an ounce it hasn’t really made headways going forward same is the case with the D Industrial Metals also while we have seen gains from the lows but uh any more fresh newer highs is something that the markets are completely devoid of the volumes also have continued to decline
As we head into the Christmas weekend all right we’re seeing that across markets Manisha thanks a lot for taking us through all of those cues but with
