Industrial metals are trading lower on International bourses today. We expect prices to trade range bound for the day, on heightened fears of a trade war that could derail global growth after U.S. President Donald Trump said he would push ahead with his plan to impose heavy tariffs on steel and aluminum imports.

Crude oil is trading lower on NYMEX today. We expect prices to trade range bound for the day, pulled down by weaker share markets after a key advocate for free trade in the U.S. government resigned, triggering concerns that Washington would go ahead with import tariffs and risk a trade war.

Russian oil companies could sign contracts with Iran by March 21 that would allow them to work on Iranian oilfields, Russia's Energy Minister Alexander Novak said on Tuesday.