Oil prices estimation

Oil prices dragged down on Wednesday morning, it move lower during today’s session due to the resignation of Gary chon, the economic advisor of US President Donald Trump. It raises the risk of trade war.
Oil prices also weighted by the increased oil production and rise in US crude oil inventories.
According to US Energy Information Administration, the crude oil inventory rose by 5.661 million barrels in the week, published later on Tuesday.
For Palm oil, the high import duty in India is the reason for reduction in palm prices. Palm prices have fallen about 4% this month.
In Indonesia, the consumption of extra 1 million tonnes of palm biodiesel could change over the palm oil prices and creates demand. The palm oil prices may rise up to $760 tonne within June.
Gold market is expected to continue in bullish momentum in the upcoming session. Zinc and copper are recommended to buy if they are stable above 215 and 453 respectively in Wednesday session.

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