Oil Prices Hold Steady as US Decision on Iran Sanctions Looms | Today Commodity Market Outlook 04 May 2018.
Bullion - Opens on positive Note Gold -31020-31025 Silver -39610-39615
Energy - Opens on mixed Note Crude Oil - 4560-4565 Natural Gas -182.50-183
Base Metals - Opens on positive Note Copper -458.50-458.90 Nickel -932-934 Lead -151.90-152 Zinc - 201.20-201.30 Aluminium -153.60-153.80
Oil prices held steady on Friday after shedding earlier gains, as market jitters kicked in over the prospect of geopolitical risks from possible new US sanctions against Iran.
US West Texas Intermediate (WTI) crude futures were trading 1 cent lower at USD 68.42 per barrel by 0258 GMT.
Brent crude oil futures were at USD 73.59 per barrel, down 3 cents, or 0.04 percent, from their last close after touching a intraday high of USD 73.80 per barrel in early morning trading.
Technical analysis from Reuters' Wang Tao showed the market may retest a price support level at USD 72.39 per barrel after peaking around a resistance at USD 75.45.
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