The commodities prices are rushing up higher yet again. Crude oil prices are at a fresh seven-year high, the prices have gained up by 20 percent in this year alone and the brent prices hit highs above USD 93 per barrel and the US crude prices are trading above USD 92 per barrel as well.
There are supply disruptions due to frigid US weather and the political turmoil among major world producers has been supportive as well.
The US jobs data in the January added 467,000 jobs versus the market forecast of 150,000 and that seems to have changed the sentiment for metal prices.
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There are concerns about the inventories, the Russia and the Ukraine concern and the fact that the markets are looking at strong onground demand as well. All these factors are supportive for metals.
Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.
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