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

Gold mining firms set aside $360 million for South Africa silicosis law suit

CAPE TOWN - Six gold mining firms, including Anglo American, have made a 5 billion rand ($361 million) provision to settle a class action law suit with thousands of miners who contracted fatal lung diseases while working in South African mines, an industry document said on Wednesday.

Earlier on Wednesday, lawyers acting for miners who contracted silicosis and TB said

Gold inches down amid Fed inflation concerns

Gold prices nudged lower early Thursday, after gaining nearly one percent in the previous session on weaker U.S. economic data and concerns by some Federal Reserve policymakers about lower inflation.

FUNDAMENTALS

Spot gold was down 0.1 percent at $1,290.74 per ounce by 0109 GMT.

U.S. gold futures for December delivery edged 0.1 percent lower at $1,

White metal rises amid strong global cues

Silver futures were trading higher during the afternoon trade in the domestic market on Wednesday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade.

At the MCX, silver futures for December 2017 contract was trading at Rs 39372 per kg, up by 0.18 per cent

Zinc futures up on pick-up in demand

Zinc futures were trading higher during the afternoon trade in the domestic market on Wednesday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.

At the MCX, zinc futures for Novembe

Food processing sector need to focus on quality standards and logistics

While the USD 121 billion food processing industry in India presents an opportunity for growth, the sector needs to focus on product conformity with global standards and quality together with factors like logistics traceability and safety, quality of packaging and delivery, revealed an ASSOCHAM-Grant Thornton joint study.

“There is a need for policy intervention and field level

Copper futures rise 0.39% on spot demand

Copper futures were trading higher in the domestic market on Wednesday as speculators raised bets amid pick-up in demand in the spot market. Analysts said widening of positions by participants due to uptick in demand from consuming industries in the physical market mainly attributed the rise in copper prices in futures trade.

At the MCX, copper futures for November 2017 contract was t

Nickel futures dip on subdued demand

Nickel futures were trading lower during the afternoon trade in the domestic market on Wednesday 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 domestic spot

Lead futures up on surging demand

Lead futures were trading higher during the afternoon trade in the domestic market on Wednesday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX,

22/11/2017 12:42:37 PM | Posted in Commodity Top News read full news
Cardamom futures down on subdued demand

Cardamom futures were trading lower during the morning trade in the domestic market on Wednesday 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

22/11/2017 12:12:47 PM | Posted in Commodity Top News read full news
Mentha oil futures up on pickup in demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday 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 oi

22/11/2017 12:10:31 PM | Posted in Commodity Top News read full news
ONGC Videsh buys 15% stake in Namibian oil block

State-run explorer Oil and Natural Gas Corp (ONGC)'s overseas arm ONGC Videsh Ltd (OVL) on Tuesday said it has acquired 15 per cent stake from UK's Tullow Oil in an oil block in Namibia.

"This is OVL's second acquisition in as many months in the African nation," a company statement said here.

OVL said its indirect subsidiary ONGC Videsh Vankor

22/11/2017 10:08:13 AM | Posted in Commodity Top News read full news
Indian basket of crude over $60/barrel, excise cuts coming?

With crude oil going above $60 a barrel and the Organization of the Petroleum Exporting Countries (OPEC) expected to extend ouput cuts later this month, the Indian government faces a difficult decision to renew the excise reduction on transport fuels in this election season.

The Indian basket, comprising 73 per cent sour-grade Dubai and Oman crudes, and the balance in sweet-grade

Gold inches up as dollar dips ahead of Fed meeting minutes

Gold prices crept up on Wednesday amid a softer dollar, with investors remaining cautious ahead of the release of minutes from the U.S. Federal Reserve's last meeting, which could offer hints on the outlook for the central bank's monetary policy.

Spot gold was up 0.2 percent at $1,283.21 per ounce by 0817 GMT.

U.S. gold futures for December delivery gained 0.1 percen