Oil Prices Drop On Potential Increase in OPEC Output | Today Commodity Market 28 May 2018.



Bullion - Opens on negative Note Gold -30950-30980 Silver - 39950-40000 

Energy - Opens on negative Note Crude Oil - 4470-4490 Natural Gas -199-200 

Base Metals - Opens on negative Note Copper -460.50-461 Nickel -990-995 Lead -162-160 Zinc - 206.50-207 Aluminium -152.30-153




Oil prices fell on Thursday on expectations that OPEC members will step up production in the face of worries over supply from both Venezuela and Iran.

A surprise build up in crude oil inventories in the United States also weighed on prices, driving the spread between Brent crude and U.S. West Texas Intermediate (WTI) close to its widest in three years.

International benchmark Brent futures were down 27 cents, or 0.34 percent, at $79.53 per barrel at 0300 GMT.


U.S. West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.24 percent, at $71.67 a barrel.

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