New Delhi, May 12 (HS): The finalization of the trade deal between the United States and China has positively impacted crude oil prices in the international market, which recently saw a significant upward trend after a period of decline. Crude oil soared over three percent in a single day, with Brent crude reaching 66.38 dollars per barrel, an increase of 3.70 percent, while West Texas Intermediate (WTI) crude rose by 4 percent to 63.59 dollars per barrel. The anticipated growth in crude oil demand due to the trade deal contributes to these price increases. However, uncertainty looms as OPEC Plus has announced plans to boost crude oil production in June, potentially leading to an oversupply and subsequent price drops. Additionally, turmeric, a key agro-commodity, has gained traction in the market, rising by over three percent today and surpassing 14,300 rupees in May futures, reflecting a steady upward trend of approximately 15 percent over the past three months.

Hindusthan Samachar / Jun Sarkar