Commodity Market Update (Crude Oil)

On Comex, precious metals are trying to rebound from week’s low ahead of quarterly US GDP data later in the session. Gold future prices are quoting at $1178 per troy ounce, higher by one dollar and Silver prices are trading at $15.84 per troy ounce, up by 10 cents. On Nymex, WTI Crude Oil prices nudged higher on bets of US supply drop and uncertainty over Iran deal. Crude Oil is trading at $61.11 per barrel, rose by 10 cents and Natural Gas is trading at $2.77 per mmBtu, higher by more than one-and-half percent. On LME, base metals are trading on mixed note. Copper prices are currently quoting at $5770 per tonne, up by 18 dollars and Lead is selling at $1802 per tonne, higher by eight points. Nickel is trading in red at $12815 per tonne, down by 35 points while Aluminium and Zinc are trading almost flat at $1726 and $2055 per tonne respectively.