Crude Prices Start The Week Lower Due To Strong US Dollar & Rise In China April Manufacturing Data
let’s move on and talk about the
commodity markets Manisha Gupta is
joining us with all the update as always
hey Manisha good morning morning and
thank you for that you know the street
is reacting to the China Services PMI
data which has dropped to a three-month
low and that does seem to be weighing on
Commodities in some sense in any case
we’ve been looking at oneway Street all
the commodity prices have been rising
especially the Bas metal prices copper
is hit a two-year Highs at $ 10,40 a ton
but after this news there’s a bit of a
profit taking that you have seen across
street including Cor iono prices have
slipped steel prices which has been
surging also fell by nearly half a
percent in the overnight Market it also
is going to be about the US monetary
policy decision that comes in tomorrow
the China PMI data that comes in on
Thursday are some of the cues that the
street will watch out for now having
said that the precious metal prices have
seen some buying come back the gold
prices are headed for a third monthly
gain gold is up 5% in April and silver
is gained up by 8% as well so Central
Bank buying the safe haven buying in the
month of April as well have been
supportive factors okay all right so
that’s what’s happening in the commodity
Market thank you so much Manisha for
joining us today and
[Music]
Crude oil prices traded lower amid Israel-Hamas ceasefire talks in Cairo. Brent crude futures fell 0.11% to $88.30 a barrel, and US West Texas Intermediate crude futures declined 0.18% to $82.48 a barrel. The front-month contract of both benchmarks lost more than 1% on Monday.
#crudeprices #crudeoilprices #brentcrudeoilprices #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
Read web story: https://www.cnbctv18.com/market/oil-holds-drop-as-middle-east-ceasefire-talks-erode-risk-premium-19404221.htm
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