Global trade tensions are still on. Reactions from the other countries also going to be quite important. For the crude itself, the trade between the two varieties has narrowed to nearly $5 per barrel. It was as high as $11 per barrel in the previous month, so that shows us that there is some convergence happening here.
The global market will take precedence over everything else. Macros will be important to watch out for.
It is not just the crude oil prices which declined, the base metal prices were also down between 2 percent and 5 percent.