Crude price has been hovering, since a while, between $40-$50. Due to rising US supply of crude oil, Opec and Non-Opec efforts to curb production were on sidelines. However, there has been a dive in US Supply since last 2 months. US Crude- oil supplies has declined for eighth straight week(13%) to the lowest level since January 2016. Crude oil price too has rallied more than 10% in last couple of months and picture looks brighter in coming months.

Insight – Commodity prices are beginning to indicate a growth pick up across the globe. Crude Oil prices could be the strongest indicator given the overhang of supply.