Crude Oil Prices Rise Above $89/bbl, Demand From US, UK & Japan Stabilises | CNBC TV18
as promised Manisha Gupta now joins in
with all the updates from the
Commodities Market good morning Manisha
what are you picking up this morning
thank you for that when I looking at
metals and what tendous rally into this
one it’s non stoppable really when you
look at the copper prices we’re trading
at a two-year highs a new two-year highs
that is there are Supply disruptions at
mines there is strong demand estimates
coming in from various sectors and
interestingly a very important report
from a black rock analyst suggesting
that copper prices need to be at a
12,000
a ton to incentivize investments in mind
if we are to meet the kind of demand
estimates that are being put out by 2030
so well yes there’s a big push that
we’ve seen in case of copper price it is
another 2% of gains in the overnight
Market uh even stronger moves is what
we’ve seen in zinc prices that is
trading at a new 12mon highs uh strong
gains have come back in case of gold and
silver as well within energy space the
natural gas prices are now trading at a
7 we highs we’ve seen 27% of a up move
natural gas in the overnight markets and
with that the crude oil prices also are
trading above $89 a barrel right now
well the markets also are reacting to
the US data where the first quarter GDP
grew lesser but the US consumer prices
plus 3.4% tell you that inflation is
still a concern that has led to a
decline in dollar and the tangible
Commodities Are Back In
Focus thanks a lot Manisha for all the
updates on the Commodities Market we’ll
keep an eye out on all of these cues but
[Music]
Oil prices rose in early trade today, as players took stock of the U.S. Treasury secretary’s comments that the country’s economy is likely in a stronger position than indicated by weak first-quarter data, coupled with supply concerns as conflict continues in the Middle East.
Brent crude futures gained 34 cents, or 0.38%, to $89.35 a barrel at 1211 GMT, and U.S. West Texas Intermediate crude futures rose by 33 cents, or 0.39%, to $83.90 a barrel.
#crudeoilprices #brentcrudeoilprices #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
Read web story: https://www.cnbctv18.com/market/oil-heads-for-weekly-advance-ahead-of-critical-us-inflation-data-19402609.htm
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