Homevideos Newsmarket Newscommodities News

    Oil near 6-week high as Saudi Arabia slashes crude price for Asia and Europe

    videos | IST

    Oil near 6-week high as Saudi Arabia slashes crude price for Asia and Europe

    Mini

    The markets are looking at various data this week – it is looking at more crude production coming in from US where the oil and rigs have added for the seventh straight week.

    Oil is trading at six-week highs and has put two-weeks of gains behind.
    The markets are looking at various data this week – it is looking at more crude production coming in from US where the oil and rigs have added for the seventh straight week.
    The reason there haven’t been further gains in Russia right now is because Europe is ready to give countries like Hungary, Slovakia more time to phase out in terms of Russian imports.
    Also Read:
    Apart from that Saudi Arabia also has lowered its crude prices for Asia and Europe.
    The market are looking for strong demand but the higher prices of crude is leading to the demand destruction is the view coming in.
    While the crude prices may be trading steady, that is not the case for the metal prices. Copper is still trading at four-month lows, aluminum is also trading at around four and a half month low.
    Watch the accompanying video for more details.
    next story

      Market Movers

      View All
      CompanyPriceChng%Chng