Prices are likely to find support around Rs 5,500 on MCX and $65 on NYMEX WTI. However, while potential OPEC+ production cuts and a possible 25 bps rate cut may provide temporary relief, overall market fundamentals suggest continued downward pressure. Ample supply and weak demand growth projections are expected to keep prices low in the near term.
Warsh’s gamble: A quieter Federal Reserve could mean volatile markets, higher rates
New Federal Reserve Chair Kevin Warsh is significantly reducing the central bank’s communication, particularly “forward guidance” on interest rates. This move, aimed at making markets
June 20, 2026