Natural Gas Prices Tipped to Slide Amid Appalachia Pipeline Leak Repair
Natural gas prices are expected to decline in the coming days as long as they remain below Rs325. According to ICICI Direct, a quick repair of the Appalachia pipeline leak in West Virginia is expected to ease supply fears and lower natural gas prices.
Meanwhile, crude oil prices are likely to trade higher due to ongoing uncertainty surrounding US-Iran negotiations. The rejection of Iran's latest proposal to reopen the Strait of Hormuz by President Donald Trump has raised concerns that the restoration of oil flows through the critical waterway could face further delays.
Copper prices are expected to trade lower due to a firm US dollar and growing uncertainty surrounding US-Iran negotiations. However, downside will be limited by robust demand from China and depleting inventory levels on the Shanghai Futures Exchange.