OIL PRICES INCH UP SUPPORT FROM DROP IN SOUTHERN IRAQ | TODAY COMMODITY MARKET OUTLOOK 24 OCT 2017.
Bullion - Opens on positive Note Gold -29550-29560 Silver -39980-40030
Energy - Opens on mixed Note Crude Oil -3382-3385 Natural Gas -193.70-193.90
Base Metals - Opens on positive Note Copper -462-463 Nickel -775-775.50 Lead -162-162.30 Zinc - 208-208.25 Aluminium -138-138.30
Precious metals are trading higher on COMEX today. We expect prices to
trade higher for the day, recovering from a more than two-week low hit in
the previous session, on the back of a slightly weaker dollar.
Industrial metals are trading higher on International bourses today. We
expect prices to trade higher for the day, with the weaker U.S. dollar
prompting investors to buy into copper contracts on the London Metal
Exchange (LME).
Crude oil is trading higher on NYMEX today. We expect prices to trade
higher for the day, getting support from a decline in oil exports from OPEC's
second-biggest producer Iraq and a projected extended fall in U.S.
commercial oil stocks.
Oil exports from southern Iraq
have fallen by 110,000 barrels per
day this month, according to
shipping data and an industry
source, adding to the drop in
flows from OPEC's second-largest
producer caused by a shortfall
from the northern Kirkuk fields.
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