The Best Free Profitable Commodity Tips expert says The break in crude oil has been broken. After 2 days of fasting, crude oil has dropped about 2% in the international market. Brent's price has come down to $ 61. NYMEX crude also dropped 1.7 percent to below $ 53 a barrel.
Talking about the domestic market, the commodity exchange MCX was trading at Rs 3716 with a decline of 1.38% on crude oil prices.
The commodity market analysts say that the United States has again threatened China. He has said that if China does not take a meaningful initiative about a trade war, then it will impose a tariff.
Apart from this, Bank of America Merrill Lynch has expressed concerns about global economic growth next year. It has reduced its estimate of crude oil prices. According to Bank of America Merrill Lynch, Brent's average price is $ 70 in 2019 and NYMEX is $ 59. Because of this, the sentiment is weak on crude oil.
According to experts of The Best Free Profitable Commodity Tips Meanwhile, in the report of the American Petroleum Institute, it said that the stock of crude oil has increased to 54 million barrels in the last week of November 30. Due to this, the fall in crude oil prices has increased.
However, the market is now eyeing the organization OPEC's meeting with countries producing crude oil. There is a meeting of OPEC countries in Vienna on December 6. The meeting will talk about reducing the supply of crude oil
