Iran finds 2 billion barrels shale oil reserves in western province - agency

DUBAI- Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.

"Based on studies, it is estimated that the shale oil reserves in Ghali Koh in Lorestan amount to 2 billion barrels of oil in place,” Bahman So

Indian gold prices flip to discount for first time in 7 weeks

By Rajendra Jadhav and Sethuraman N R

MUMBAI/BENGALURU - Gold started trading at a discount to official prices in India on Friday for the first time in seven weeks, and buyers elsewhere in Asia held back purchases, waiting for rallying bullion prices to ease.

Gold crept higher on Friday as investors opted for its relative safety given uncertainty about

Nickel futures drop 0.87% on overseas cues

Nickel futures were trading lower during evening trade in the domestic market on Friday as investors and speculators indulged in profit booking in the industrial metal on fall in physical demand amid firm US dollar.

The greenback remained firm after the US Fed Chair Janet Yellen supported a near-term interest rate hike due to signs of robust economic growth, influenced nickel prices a

Zinc futures in reverse gear on global cues

Zinc futures fell over 1 per cent during evening trade in the domestic market on Friday as investors and speculators booked profits in the industrial metal on firm US dollar.

The greenback remained firm after the US Fed Chair Janet Yellen supported a near-term interest rate hike due to signs of robust economic growth, influenced zinc prices at futures trade.

At the MCX, zinc

White metal loses shine on overseas cues

Silver futures were trading lower during evening trade in the domestic market on Friday as investors and speculators exited their positions in the precious metal as safe-haven demand faded on rise in the US dollar against a basket of other currencies

. The prospect of a stronger dollar and the US Treasury yields after Fed Chair Janet Yellen said that the US interest rates may need to

Copper futures in reverse gear

Copper futures were trading lower during evening trade in the domestic market on Friday as investors and speculators indulged in profit-booking in the industrial metal and rise in the US dollar against a basket of other currencies.

However, worries over supply stoppages from Chile and Indonesia, restricted further losses in copper prices.

At the MCX, copper futures for Febru

Asian LNG prices continue slide as supplies rise, demand thins

By Mark Tay and Oleg Vukmanovic

SINGAPORE/MILAN - Asian spot LNG prices fell for a sixth consecutive week as a series of sell tenders launched this week are seen offering supplies into a market with thin demand following a warmer-than-expected winter in North Asia.

Spot prices for liquefied natural gas (LNG) for April delivery were pegged at around $6.4

Government mulls setting up scrap-based steel plants

The government today said it is planning to set up scrap-based steel plants in north and west parts of India to augment the country's production capacity.

"We are examining the feasibility of setting up scrap-based steel plants," Steel Minister Chaudhary Birender Singh said during Make in Steel Conference here. Stressing that the scrap-based steel plants are environment-

Yellow metal loses shine on global cues

Gold futures were trading lower during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the precious metal as safe-haven demand faded on rise in the US dollar against a basket of other currencies.

The prospect of a stronger dollar and the US Treasury yields after Fed Chair Janet Yellen said that the US interest rates may need to b

Crude oil futures in reverse gear

Crude oil futures were trading lower during afternoon trade in the domestic market on Friday as investors and speculators remained on the sidelines in the energy commodity on rise in US dollar against a basket of other currencies and concerns over a rise in the US production.

However, optimism over possible renewed supply cuts by OPEC members, restricted further slide in oil prices. A

Hold Ramco Cements Ltd For Target Rs.723.00 - Karvy

Strong volume growth leads to better performance

Ramco Cements Q3FY17 EBITDA of Rs 2.62 bn (+7% YoY) came marginally lower than expected on account of lower than expected margins. Though volume growth of 22% YoY was better than expectation of 13% YoY, realisation came a tad lower with ~2% QoQ decline. EBITDA/ton stood at Rs 1319/t, declined by 12% YoY

17/02/2017 3:00:42 PM | Posted in Broking Firm Views - Long Term Report read full news
Exclusive: OPEC could extend or deepen supply cut if oil glut persists - sources

By Rania El Gamal

RIYADH - OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said.

The group, together with Russia and other non-OPEC oil producers, agreed late last year to cut output by 1.8 million barrels per day (bpd) to redu

India`s naphtha exports to decline on rising local demand

By Seng Li Peng

SINGAPORE - India's 2017 naphtha exports are expected to fall, after the volumes rose for the first time in five years in 2016, and this would prove untimely for buyers who are already hit by tighter supplies.

Fewer European naphtha in Asia and a lack of alternative liquefied petroleum gas (LPG) feedstock were reasons that turned the

Sluggish physical demand bites lead futures

Lead futures were trading lower during morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the industrial metal amid fall in physical demand for lead, from battery-makers, in the domestic spot market.

Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures tr

Aluminium futures dip 0.83% on ease in demand

Aluminium futures were trading lower during morning trade in the domestic market on Friday as investors and speculators trimmed their bets in the industrial metal amid fall in physical demand for aluminium at the domestic spot market.

Further, a drop in physical demand for aluminium at the domestic spot market was due to cut down of positions by traders in the spot markets, influenced

Mentha oil futures lift 0.24% as demand picks up

Mentha oil futures were trading higher during morning trade in the domestic market on Friday as investors and speculators build up fresh bets in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, widening of positions by traders in the spot market was led by rise in physical demand for mentha oil from

Uptick in demand buoys cardamom futures

Cardamom futures were trading higher during morning trade in the domestic market on Friday as investors and speculators build up fresh bets in the agri-commodity amid increase in physical demand for cardamom in the domestic spot market.

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

Gold steady on weaker dollar, set for third week of gains

By Sethuraman N R

Gold held steady on Friday as the dollar hovered near one-week lows, keeping the metal on track for a third week of gains amid political uncertainties in the United States and Europe.

Spot gold was flat at $1,238.29 per ounce at 0710 GMT, while U.S. gold futures were down 0.2 percent at $1,238.50.

Gold is up 0.3 percent so far this week and has ri

Oil prices slip as high stocks overshadow OPEC cuts

By Libby George

LONDON - Oil slipped on Friday, pressured by growing global stocks, while expectations that an oil output cut by producers might eventually balance the market helped to underpin prices.

Brent crude futures were trading at $55.57 per barrel at 0945 GMT, 8 cents below their last close.

U.S. West Texas Intermediate (WTI) crude fut

Exclusive - India may cut potash subsidy in potential blow to demand

By Rajendra Jadhav

MUMBAI - An Indian government ministry has proposed slashing potash subsidies by 17 percent in the next financial year to reduce the fiscal deficit, officials said, a move that would hit demand in one of the world's largest importers of the fertiliser.

Although global prices have been falling, a reduction in government support in

Nickel futures rise 0.34% on uptick in demand

Nickel futures were trading higher during evening trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal on surge in physical demand as the US dollar gave up gains.

Republican lawmakers on Wednesday criticized Fed Chair Janet Yellen's stewardship of the US economy and urged her to halt work on financial regulation unt

Zinc futures in reverse gear on diminishing demand

Zinc futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal amid fall in physical demand for zinc at the domestic spot market.

Further, a drop in physical demand for zinc at the domestic spot market was due to cut down of positions by traders in the spot markets, influenced zinc pri

White metal shines on global cues

Silver futures were trading higher during evening trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal as the US dollar gave up gains.

Republican lawmakers on Wednesday criticized Fed Chair Janet Yellen's stewardship of the US economy and urged her to halt work on financial regulation until new President Trump names n

Copper futures in reverse gear

Copper futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal as striking workers at Chile's Escondida copper mine have agreed to renew talks with BHP Billiton.

Investors remained cautious as renewed talks between striking workers and management at the world's largest copper

El Nino could return in second half of 2017 - WMO

GENEVA - El Nino weather conditions could return to heat up the planet later this year, although neutral conditions are slightly more likely, the U.N.'s World Meteorological Organization (WMO) said in a statement on Thursday.

Climate models surveyed by the WMO suggested a 50 percent chance of neutral conditions continuing in the second half of 2017, with a 35