Commodities round-up: Crude oil price set to lose as energy demand wanes

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The crude oil prices are headed for a third weekly loss while the prices have gained 8 percent in the last 7 trading sessions, but the markets have seen falling energy demand, especially from China.

There is strength in the US dollar, which is trading at a 2 year high, there are signs of the US Fed about aggressive monetary policy. So that seems to have limited too many gains in various commodities.

The only reason the crude price is trading above USD 100 per barrel is Libya losing a lot of crude because of blockages at ports and fields. Also, there is a statement from Janet Yellen cautioning on the European Union ban on Russian imports on how that could spike the crude oil prices up.

These are a few factors that are limiting too much of gains in crude prices, but that’s the scenario seen across the board.

Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.