OPEC chatroom dead as Qatar crisis hurts Gulf oil cooperation

By Rania El Gamal and Dmitry Zhdannikov

DUBAI/LONDON  - OPEC's most powerful internal alliance, bringing together the oil producer group's Gulf members, is disintegrating fast.

As a six-month-old spat between Saudi Arabia and Qatar deepens, the organisation's Gulf ministers will have to scrap their tradition of meeting behind closed doors to

White metal dips on feeble global cues

Silver futures were trading lower during the afternoon trade in the domestic market on Thursday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.

At the MCX, silver futures for Dece

Gold futures dip on subdued demand

Gold futures were trading lower in the domestic market on Thursday on weaker US economic data and concerns by some Federal Reserve policymakers about lower inflation. Analysts said offloading of positions by participants on the back of tepid demand in the spot markets, mainly led to decline in gold prices at futures trade.

At the MCX, gold futures for December 2017 contract is trading

India sets curbs on onion exports as prices surge

MUMBAI  - India set a minimum price of $850 per tonne for overseas sale of onions, a government order said on Thursday, as the price of the politically-sensitive vegetable surged to its highest in two years in the local market.

Traders cannot export onions below $850 per tonne until the end of 2017, the order said.

Average prices at Lasalgaon, India'

Nickel futures dip on easing demand

Nickel futures were trading lower during the afternoon trade in the domestic market on Thursday tracking a weak trend in base metals at the London Metal Exchange (LME) amid muted demand at the domestic spot markets.

Market analysts said the fall in nickel prices was mostly in tune with a weak trend in the base metals pack at the LME. Besides, muted demand from alloy-makers at the dome

Zinc futures dip on subdued demand

Zinc futures were trading lower during the afternoon trade in the domestic market on Thursday as speculators trimmed positions amid easing demand in the spot market. Analysts said offloading of positions by participants on the back of tepid demand in the spot markets, mainly led to decline in zinc prices at futures trade.

At the MCX, zinc futures for November 2017 contract was trading

India cotton exports to drop as pink bollworms eat crop

By Rajendra Jadhav

WARDHA, India  - India is likely to export nearly one-fifth less cotton than previously estimated as pink bollworms are set to eat into the south Asian country's output which was expected to hit a record, industry officials told Reuters on Thursday.

Lower exports from the world's biggest producer will help its rivals like the

Lead futures dip on easing demand

Lead futures were trading lower during the afternoon trade in the domestic market on Thursday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for November 2017 contract is trading at Rs 1

Mentha oil futures up on rising demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Thursday amid pick-up in demand at domestic spot market and restricted supplies from producing regions.

Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in

U.S. oil prices ease from two-year highs on oversupply worries

By Polina Ivanova

LONDON  - U.S. oil prices eased back from a two-year high on Thursday, as concerns about oversupply outweighed the impact of a pipeline shutdown in the United States.

U.S. light crude was trading down 17 cents at $57.85 a barrel at 1015 GMT, slipping from its highest level since mid-2015 reached on Wednesday of $58.15.

Brent

Cardamom futures up on increasing demand

Cardamom futures were trading higher during the evening trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market.

Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domesti

Gold prices dip on profit-taking amid Fed inflation concerns

By Vijaykumar Vedala

Gold prices nudged lower on Thursday, with investors taking profits after gains of nearly 1 percent in the previous session on weaker U.S. economic data and concerns among some Federal Reserve policymakers over lower inflation.

Many Fed policymakers expect that interest rates will have to be raised in the "near term", the minutes of the U.S. ce

Mentha oil futures up on rising demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Tuesday amid pick-up in demand at domestic spot market and restricted supplies from producing regions. Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil

Cardamom futures up on rising demand

Cardamom futures were trading higher during the morning trade in the domestic market on Tuesday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market.

Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic

Oil rises ahead of OPEC meeting as further output cuts expected

LONDON  - Oil prices rose on Tuesday as traders looked to a meeting next week at which major crude exporters are expected to extend production cuts, though rising U.S. output capped gains.

Brent crude oil was up 47 cents at $62.69 a barrel at 0932 GMT. U.S. light crude was at $56.74, up 32 cents.

Analysts said Brent was expected to fluctuate in a narrow

Cardamom futures down on subdued demand

Cardamom futures were trading lower during the morning trade in the domestic market on Monday as speculators booked profits at prevailing levels amid easing demand in the spot market. Analysts said besides profit booking by participants at existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

At the MCX, cardamom fu

Gold dips on firmer dollar but stays close to 1-month peak

Gold eased on Monday due to a stronger U.S. dollar, but remained near a one-month high hit in the previous session on uncertainty over progress on a potential overhaul of the U.S. tax code.

Spot gold was down 0.2 percent at $1,291.44 per ounce by 0757 GMT, but not far off Friday's peak of $1,297, its strongest level since Oct. 16.

U.S. gold futures for December delivery

India`s biggest tax hike in a decade may cut palm oil imports

MUMBAI/SINGAPORE  - India's palm oil imports are likely to drop until the end of the year after the world's largest edible oils buyer raised import taxes to the highest in more than a decade, importers and dealers said.

India announced late on Friday that it raised its import tax on crude palm oil to 30 percent from 15 percent, while the duty for refined

Oil eases as traders and investors grow edgy ahead of OPEC

LONDON - Oil eased on Monday, as traders were wary of betting too heavily on which way prices might move ahead of an OPEC meeting next week, when the exporter group is expected to decide whether to continue output cuts aimed at propping up prices.

Brent crude futures were at $62.25 per barrel by 1210 GMT, down 47 cents, while U.S. West Texas Intermediate (WTI) crude f

'Total' cannot drop major gas deal under US pressure: Iran

French energy giant "Total" cannot leave a major gas deal with the Islamic republic under the pretext of the US political pressures, Iranian Petroleum Minister Bijan Namdar Zanganeh said.

"Total" can only drop the deal if the United Nations Security Council imposes international sanctions against Tehran, Zanganeh said on Saturday on the sidelines of his meetin

Government to make hallmarking compulsory for gold jewellery

The government could make hallmarking compulsory for gold jewellery by January next year to certify the purity of the metal being sold.

Union Minister for Consumer Affairs, Food and Public Distribution Ram Vilas Paswan said buyers generally don't know about the quality of gold they buy from jewellery shops because not all ornaments are not certified.

"We plan to mak

Delhi government orders market check after high onion, tomato prices

The Delhi government on Friday ordered inspections of wholesale and retail markets across the city to check hoarding of tomatoes and onions.

"Steady and continuous rise in prices of tomato and onion without any plausible reason indicates possibility of hoarding of these commodities," Food and Supply Minister Imran Hussain said in a statement.

Teams were also direct

Ecuador defends big Yasuni rainforest oil bet

YASUNI PARK, Ecuador  - The manager of state oil company Petroamazonas defended Ecuador’s plans to expand exploitation of major oil reserves in one of the world's most species-diverse rainforests, saying it will ensure minimum environmental impact and use appropriate technology.

The OPEC country is avidly seeking resources to revitalize an ailing econom

Next SGB issue price fixed at Rs 2,971 per gram

The government on Saturday said it has fixed Rs 2,971 per gram as issue price for the next offering of its Sovereign Gold Bond (SGB) scheme, an official said.

The issue price has been fixed at Rs 2,971 per gram for subscription during October 23-25, with settlement on October 30, said a statement from the Ministry of Finance.

"The Government of India, in consu

India`s oil imports hit record high in September - trade

NEW DELHI  - India imported a record 4.83 million barrels per day (bpd) of oil in September as several refiners resumed operations after extensive maintenance to meet rising local fuel demand.

The world's third-biggest oil importer shipped in 4.2 percent more oil last month than a year earlier and about 19 percent more than in the previous month, ship-trackin