Commodity Capsule: Oil prices recover; global agri-commodities dip on profit-booking

Crude oil 

Oil prices traded up on Tuesday on bargain hunting.
Both Crude oil benchmarks fell over 4% on Monday.
Prices dropped to levels seen since December 2021.
Brent, WTI crude recovered some ground after 3 straight sessions of fall.
Rising global supplies and concerns about demand growth keep a lid on gains, ahead of US inflation data and Fed's monetary policy meeting.
European Central Bank is expected to hike interest rates by another quarter percentage point on Thursday.
Market awaits demand outlooks from the Organization of Petroleum Exporting Countries and the International Energy Agency, due later on Tuesday.

Gold, Silver Rangebound

Gold prices rose slightly on Tuesday, but stuck to a tight trading range as traders hunkered down ahead of key U.S. inflation data, as well as a swathe of major central bank meetings this week.
Yellow metal has struggled in $1930-2,000 trading range over last 3 weeks amid mixed cues on the global economy and US monetary policy.
Focus is now on US inflation data due later in the day.

Base Metal Crept Into Green

Prices of copper and other base metals climbed on Tuesday. 
Traders welcomed China's decision to cut borrowing costs for the first time in 10 months to prop up its economic growth.
China's central bank lowered its seven-day reverse repo rate for the first time since August, typically signals potential changes in longer-term rates.

Global Agri Commodities Gains Stall

Soybean, Wheat, Edible Oils, Coffee dips on profitbooking