Commodities round-up: Crude oil price at 2-week low
Crude oil price is at a two-week low and it has been a decline for various other commodities like four-week lows coming for gold and silver, a nearly nine-week low seen for palladium. So various commodities, which surged up because of the Russia-Ukraine issue, seem to be going down now.
Apart from the Ukraine and Russia claiming progress in the peace talks, it’s also about the Shanghai lockdown that may lead to an immediate demand decline from that country.
The markets will also keep a keen eye on the Organization of the Petroleum Exporting Countries (OPEC) and allies which are meeting on Thursday, March 31, to decide on what they want to see in May production.
Crude oil price is at a two-week low and it has been a decline for various other commodities like four-week lows coming for gold and silver, a nearly nine-week low seen for palladium. So various commodities, which surged up because of the Russia-Ukraine issue, seem to be going down now.
Agro commodities like corn, soybean, wheat sugar, everything is trading at pre-war levels now.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
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