Oil Edges Up on North Sea Pipeline Outage, | Today Commodity Market Outlook 20 Dec 2017.



Bullion - Opens on positive Note Gold -28450-28460 Silver -37480-37500 

Energy - Opens on positive Note Crude Oil -3700-3705 Natural Gas -175-176 

Base Metals - Opens on mixed Note Copper -448.10-448.30 Nickel -754-755 Lead -163.80-164 Zinc - 205.50-205.80 Aluminium -133.50-133.70





Precious Metals 
Precious metals are expected to open flat today but some pressure on prices may persist as US treasury yields continue to climb. US 10 yr. yields are near the highest since March on the back of better economic data and optimism over the tax bill. The US tax bill is likely to be voted in the Senate today after getting cleared in the House yesterday. 

Base Metals 
Base metals traded sideways, with traders booking profits on recent gains that were fuelled by rosier demand outlook after data for last month showed resilience in global manufacturing. The World Bank raised its forecast for China's economic growth in 2017 to 6.8% from 6.7% it projected in October, as personal consumption and foreign trade supported growth. 

Energy 
Crude oil prices are likely to go higher as US inventories saw a drawdown for yet another week. The API reported a draw of 5.2 million barrels in US stocks and the EIA data later today will provide further clarity. Oil prices have been up in the last few days as speculators have boosted their bullish positions in response to the shutdown of Forties oil pipeline which happened last week.

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