T Gnanasekar of CommTrendz Research, in an interview with CNBC-TV18, said that he expects crude oil prices to dip in the near future.

“As of now, prices could dip in the near term, but maybe $2-3 lower from here it would find some more strength again because there are other factors also that are building up which would potentially support prices in the medium term, but in the near term we do see pressure building up,” said Gnanasekar.

Speaking about metals, he said, “Fundamentals for metals are fairly good, to say the least because you have a supply shortage in many of the metals but that is not being seen in the price ... that ( US-China trade talks) is weighing on prices overall. So till that cloud is clear, I don’t think you are going to have any kind of meaningful rally in base metals.”