Recent news of the gains in US oil extraction have produced only a limited downward effect to the global oil prices as in fact many US oil rigs are not fully assembled are ready for re-commissioning. Besides, the decrease in the Saudi oil supply to the US in another factor supporting the Brent benchmark price at around $50/bbl or higher. SEE MORE Last week, after WTI dipped to $48, it seemed to firm up a bit on assurances from OPEC regarding compliance with its cuts, and a better-than-expected report from the EIA showing a slight drawdown in crude oil inventories also provided a boost to oil prices. Crude closed out the week slightly up from the week before. SEE MORE Asia styrene butadiene rubber (SBR) prices look set to fall in April because of plummeting feedstock butadiene (BD) cost and the prevailing softness in the natural rubber (NR) price. SEE MORE “Generally, the metals on the LME have rebounded strongly in recent weeks but they seem to lack the buying power to absorb the overhead selling, which suggests range-bound trading,” Metal Bulletin analyst William Adams said. SEE MORE Speaking to CNBC-TV18, Milak said though the decline in Chinese dumping along with fall in rubber will give a significant advantage for Indian companies SEE MORE