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market | IST

OPEC raises 2018 demand outlook for crude oil

Opec on Monday raised its estimate for global demand and that is the reason is gaining in trade and the prices are back above $78 per barrel.
Opec also has reported that the oil glut in the global market seems to be eliminating. There are various reports coming in from US and how the supply has a limited capacity to respond to higher crude prices.
The nickel prices has seen strength which gained more than 3% in the overnight market. Lead prices which are up 7% in the month of May also have come off their nine-month lows.