Oil Prices Edge up On Lower US Crude Inventories | Today Commodity Market News Outlook 18 April 2018.


Commodity Opening Bell 


Bullion - Opens on negative Note Gold -31340-31350 Silver -39340-39350

Energy - Opens on mixed Note Crude Oil - 4370-4380 Natural Gas -180-.40-180.60

Base Metals - Opens on mixed Note Copper -447.50-448 Nickel -938-939 Lead -154-153.50 Zinc - 207.20-207.50 Aluminium -159-160


Gold prices slipped a little on the back of positive economic data from the U.S which supported the dollar and weighed on yellow metal. The data was in line with the expectations which pointed out to the underlying strength of the U.S economy.

Base metals traded firm with nickel rallying to close at multi year highs along with aluminium which hit a near seven-year high have rallied ~19% as the aftershocks from the US sanctions against Russian producer Rusal continued to reverberate through the markets. 

Oil prices edged higher after seesawing in choppy trade, as investors weighed potential for disruptions to crude supply, especially in Middle East and report from API which stated draw down in crude oil inventories. Data from API showed crude inventories fell by 1 million barrels last week, to 428 million barrels

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