Commodity Updates - Crude oil prices closed higher in the domestic market on Monday after Industrial production in the euro zone rose more-than-expected last month signaling improving sentiment in the region which raised the demand outlook for the fuel. In a report, Eurostat said that Euro zone industrial production rose to a seasonally adjusted 0.6 per cent, from -0.3 per cent in the preceding month.
1 Like
The US Crude/WTI Oil may have closed higher but the downtrend is not about to just do a V-turn: the medium-term is bearish.
As for Euro sentiment, it is nowhere near positive…
…US Crude/WTI oil is sub-$35…
Currently at 34.88.
However, Yellen was confident that energy prices will stabilise; the big question is: when?