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Crude prices are up 36 per cent from the bottom of 2017. Compared to Brent, Neamax Crude is showing a discount of $ 6.50. Brent has crossed 60 dollars, which is close to the height of July 2015. Meanwhile Saudi Arabia, Russia is in favor of increasing the production cut. Production in the US increased by 13 percent in 15 months. Gold is trading in limited scope. Gold at the commex looks at the 3-week low level. FOMC's 2-day meeting will begin tomorrow. On the next announcement of the Federal Reserve Chairman, the market will remain visible.
Meanwhile, there is a weakness in the metals. Copper is trading at the lower level of 2 weeks on the London Metal Exchange. There is pressure on metals from strong dollar. There are signs of lethargy in China's property market.
Talking about the agri commodity, oil in the oil is looking strong. There are strong indications for food oils from the international market too. It is getting double support from weak rupees. There is a sharp decline in gram. The weak demand on gram is showing the effect. There is also speed in Castor, strong spot demand and slow incoming support.
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