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videos | IST

Commodities round-up: Crude oil rebounds; natural gas prices off 5-month low

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Crude oil prices declined 3.7 percent yesterday, December 20, and almost hit USD 68 per bbl of a low. It's holding above USD 69/bbl now; so rebounded from a two-week low.

Crude oil prices declined 3.7 percent yesterday, December 20, and almost hit USD 68 per bbl of a low. It's holding above USD 69/bbl now; so rebounded from a two-week low.
The COVID-19 restrictions continue to weigh on the demand estimate and that's a daily thing now, but the US rig count also surged to an April 2020 highs and that seems to be putting pressure on prices.
The same is the case with the natural gas prices, which also have come off 5 monthly lows.
Cold temperatures are being forecasted; the demand estimate seems to be getting better because of the winters for the next couple of months and that is supportive for natural gas as well in Asia.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.