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Commodities Corner: Record high demand for crude oil is expected in April

Updated : April 25, 2018 10:56 AM IST

Crude oil prices are seeing some profit taking continuing from the New York session yesterday.

It is primarily because of the positive statements coming from US and France officials on the Iran nuclear deal.

API data shows that the weekly US inventories have shown a surprise build up which is slightly bearish for the prices.

Crude is still holding above $73 per barrel in the international markets and going forward with the demand estimates coming from Asia, a record high demand for the month of April is expected.

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