There has been a 2% decline in the oil markets overnight and some buying came back in the Asian markets, but the pressure is there to be seen.

Crude prices witnessed a decline of 8% in last two weeks and this week the prices are 2% down. The pressure comes in from the fact that the US production has been increasing every month.

There are estimates of increase in supplies from OPEC and non-OPEC countries as well and that is what is putting pressure on the markets.

First Published:Jun 5, 2018 8:21 AM IST