Commodities saw strong gains on Friday. Crude oil prices gained overnight yet again and on the back of exchange of missiles between Israel and Syria.

The US oil inventory has declined and there are reports of near record breaking demand coming in from the global market.

The International Energy Agency (IEA) also raised crude and gasoline price outlook for the rest of 2018.

Brent crude was expected to average at $71 per barrel, while WTI crude was expected to average $66 per barrel in 2018, the agency said.

Metals also saw strong gains. Copper prices continued to gain on declining inventories, and strong China imports.

Gold prices continued to hold around the $1,300 per ounce mark, despite US dollar seeing 2018 highs.

First Published:May 11, 2018 9:16 AM IST