There has been a surge overnight in the crude oil prices, especially the US crude that has surged by 3.5 percent.

US has asked all countries to halt imports of Iran crude and that has taken the prices on the higher side.

The markets do believe that the kind of increase in supply that was talked about, in the OPEC meeting, is only on paper and wouldn’t be seen on ground and the second half of 2018 is expected to showcase yet another strong demand from most of the consumer countries.

Gold prices declined to six-month lows, copper prices have declined by 9 percent in last two weeks and zinc prices are trading at 10-month lows. As far as the metal space goes, there is all red.

First Published:Jun 27, 2018 9:24 AM IST