News

Oil ticks higher as tight supply trumps macroeconomic gloom Oil prices hovered above $90 a barrel on Friday, on track to end the week higher as investors chose to focus on tighter supply, despite broader macroeconomic uncertainty. Both oil benchmarks hit 10-month highs earlier this week after Saudi Arabia and Russia extended their voluntary supply cuts of a combined 1.3 million barrels per day (bpd) to the end of the year. However, both benchmarks ended Thursday slightly lower amid volatile trade on multiple signals warning of weaker demand in t...
Oil ticks higher as tight supply trumps macroeconomic gloom
Oil ticks higher as tight supply trumps macroeconomic gloom
Source: Reuters
8/09/2023 7:35:20 PM
Oil falls on stronger U.S. dollar, China worries; heading for weekly gain Oil extended losses on Friday, further receding from this week's 10-month highs, as fears about the health of China's slowing economy and a stronger U.S. dollar wiped out the gains triggered by supply cuts from major producers Saudi Arabia and Russia. Brent crude futures dropped 51 cents, or 0.6%, to $89.41 a barrel by 0355 GMT, while U.S. West Texas Intermediate crude (WTI) futures declined 58 cents, or 0.7%, to $86.29. Both benchmarks reached 10-month highs earlier this week o...
Oil falls on stronger U.S. dollar, China worries; heading for weekly gain
Oil falls on stronger U.S. dollar, China worries; heading for weekly gain
Source: Reuters
8/09/2023 9:12:58 AM
Oil prices edge up on anticipated US crude stock draw Oil prices edged higher on Thursday, after industry data showed U.S. crude oil inventories were expected to have fallen last week, signaling tightening supplies on top of extended production cuts in Saudi Arabia and Russia. U.S. crude oil inventories were projected to fall by 5.5 million barrels in the week ending Sept. 1, according to market sources citing American Petroleum Institute figures released after market settlement. Official inventory data from the U.S. Energy Information Adm...
Oil prices edge up on anticipated US crude stock draw
Oil prices edge up on anticipated US crude stock draw
Source: Reuters
7/09/2023 9:13:23 AM
Combined index of 8 core industries increases by 8% in July 2023 The combined index of eight core industries (ICI) increased by 8 per cent (provisional) in July 2023 as compared to the same month last year. The production of coal, steel, natural gas, cement, electricity, refinery products, fertilisers and crude oil increased in July 2023 over the corresponding month of last year. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Meanwhile, final growth rate of index of ei...
Combined index of 8 core industries increases by 8% in July 2023
Combined index of 8 core industries increases by 8% in July 2023
Source: IANS
31/08/2023 6:12:32 PM
Oil steady as supply concerns offset worries over demand Oil prices were flat on Tuesday as worries that further possible U.S. interest rate hikes could pull down demand were countered by concerns a tropical storm off the U.S. Gulf Coast could impact supply. Brent crude was 2 cents lower at $84.40 a barrel by 0032 GMT, while U.S. West Texas Intermediate crude shed 3 cents to $80.07. Investors await key U.S. economic data later this week that will help determine the path of interest rates this year and next. Federal Reserve Chair Jerome Powell...
Oil steady as supply concerns offset worries over demand
Oil steady as supply concerns offset worries over demand
Source: Reuters
29/08/2023 9:09:31 AM
Oil heads for weekly fall on demand worries, dollar strength Oil prices fell slightly in early Asian trade on Friday, on track for a weekly decline as weak manufacturing activity hurt the global demand outlook and the dollar remained buoyant. Brent crude fell 16 cents, or 0.2%, to $83.20 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude fell 18 cents, or 0.2%, to $78.91 a barrel. Crude prices are set to fall between 2%-3% for the week, a second consecutive week of decline. Oil settled modestly higher in the previous session after ...
Oil heads for weekly fall on demand worries, dollar strength
Oil heads for weekly fall on demand worries, dollar strength
Source: Reuters
25/08/2023 8:56:52 AM
Oil slips, US Fed chief's speech in spotlight Oil prices slipped on Thursday on disappointing economic data from key economies, with investors awaiting a speech by U.S. Federal Reserve Chair Jerome Powell on Friday for clues on interest rate moves. Brent crude fell 99 cents, or 1.2%, to $82.22 a barrel by 1352 GMT. U.S. West Texas Intermediate crude fell $1.08, or 1.4%, to $77.81 a barrel. Manufacturing data from a host of purchasing managers' index (PMI) surveys on Wednesday painted a grim picture of the health of economies ac...
Oil slips, US Fed chief's speech in spotlight
Oil slips, US Fed chief's speech in spotlight
Source: Reuters
24/08/2023 7:46:01 PM
Oil prices fall on weak economic data, interest rate worry Oil prices slipped in early Asian trade on Thursday as weak manufacturing data in major economies outweighed optimism around a larger-than-expected drop in U.S. crude stocks. Markets are also looking for hints on the outlook for how long interest rates will remain at current levels ahead of a speech by Federal Reserve Chair Jerome Powell at a central bank symposium in Jackson Hole, Wyoming, starting on Thursday. Brent crude fell 27 cents, or 0.3%, to $82.94 a barrel by 0002 GMT, while U...
Oil prices fall on weak economic data, interest rate worry
Oil prices fall on weak economic data, interest rate worry
Source: Reuters
24/08/2023 9:08:42 AM
Oil prices ease on concerns over rate hikes, China gloom Oil prices eased in early trade on Wednesday, weighed down by fears U.S. interest rates could stay higher for longer and economic growth could slow further in top crude importer China and hurt fuel demand. Brent crude dipped 17 cents, or 0.2%, to $83.86 a barrel by 0031 GMT while U.S. West Texas Intermediate crude was at $79.56 a barrel, down 8 cents, or 0.1%. Both benchmarks lost about 0.5% on Tuesday. Markets are awaiting hints on the outlook for interest rates from policy makers w...
Oil prices ease on concerns over rate hikes, China gloom
Oil prices ease on concerns over rate hikes, China gloom
Source: Reuters
23/08/2023 8:53:37 AM
India`s July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade India's July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments. Saudi Arabia volunteered to cut ...
India`s July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade
India`s July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade
Source: Reuters
22/08/2023 12:08:18 PM
Oil dips on possible easing of tight supply, China woes hurt demand outlook Oil edged lower on Tuesday as the market waited to see if Iraqi oil exports resume, which could ease the supply tightness caused by the OPEC+ cut, while a faltering Chinese economy continued to undercut the global demand outlook. Brent crude was down 8 cents at $84.38 a barrel and U.S. West Texas Intermediate crude was trading 7 cents lower at $80.65 a barrel at 0241 GMT. WTI's contract with September expiry slipped 8 cents at $80.04 a barrel. "Crude oil struggled to keep its h...
Oil dips on possible easing of tight supply, China woes hurt demand outlook
Oil dips on possible easing of tight supply, China woes hurt demand outlook
Source: Reuters
22/08/2023 8:55:06 AM
India makes first crude oil payment to UAE in Indian rupees India and the United Arab Emirates have started settling bilateral trade in their local currencies with India's top refiner making payment in rupees for purchase of a million barrels of oil from the Middle Eastern nation, the Indian government said on Monday. Indian Oil Corp made payment to Abu Dhabi National Oil Company (ADNOC), according to a statement issued by Indian embassy in UAE. The transaction comes after one involving the sale of 25 kg gold from a UAE gold exporter to a bu...
India makes first crude oil payment to UAE in Indian rupees
India makes first crude oil payment to UAE in Indian rupees
Source: Reuters
15/08/2023 11:35:08 AM
Centre hikes windfall tax on crude, diesel and jet fuel  The government on Monday raised the windfall tax on domestically-produced crude, diesel and aviation turbine fuel (ATF) or jet fuel. The windfall tax on crude oil will increase from Rs 4,250 to Rs 7,100 per tonne, according to a gazette notification issued on Monday. It has also increased the levy on diesel from Rs 1 to Rs 5.50 per litre and on jet fuel from nil to Rs 2 per litre. The new rates will be applicable from August 15 onwards, the notification said. India had first...
Centre hikes windfall tax on crude, diesel and jet fuel
Centre hikes windfall tax on crude, diesel and jet fuel
Source: IANS
15/08/2023 9:45:26 AM
Oil India's Q1 profit rises marginally as lower costs outweigh rev drop Oil India reported a marginal rise in first-quarter profit on Tuesday as a fall in expenses offset a dip in revenue on the back of a drop in crude prices. The oil explorer's profit rose 4% to 16.13 billion rupees ($194.8 million) for the quarter ended June 30 from a year earlier. A 26.5% fall in Oil India's total expenses outweighed a 22% slump in revenue. Crude oil prices dropped more than 43% in the June quarter, from a peak last year. Oil India's profit fell nearly 10%...
Oil India's Q1 profit rises marginally as lower costs outweigh rev drop
Oil India's Q1 profit rises marginally as lower costs outweigh rev drop
Source: Reuters
8/08/2023 5:19:41 PM
Oil prices edge up as production cuts keep market supported  Oil prices rose in early trade on Tuesday as supply concerns arising from production cuts by Saudi Arabia and Russia supported the market. Brent crude futures rose 37 cents, or 0.4%, to $85.71 a barrel at 0010 GMT, while U.S. West Texas Intermediate crude was at $82.37 a barrel, up 43 cents or 0.5%. Both the contracts had settled around 1% lower in the previous trading session as investors braced for weaker demand from the world's two biggest economies, China and the United St...
Oil prices edge up as production cuts keep market supported
Oil prices edge up as production cuts keep market supported
Source: Reuters
8/08/2023 9:09:34 AM
ONGC inches up on planning to set up two oil-to-chemical plants in India Oil & Natural Gas Corporation is currently trading at Rs. 173.40, up by 0.05 points or 0.03% from its previous closing of Rs. 173.35 on the BSE. The scrip opened at Rs. 173.40 and has touched a high and low of Rs. 174.45 and Rs. 172.20 respectively. So far 141332 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 178.60 on 02-Aug-2023 and a 52 week low of Rs. 121.50 on 28-Sep-2022. Last one week high and low of...
ONGC inches up on planning to set up two oil-to-chemical plants in India
ONGC inches up on planning to set up two oil-to-chemical plants in India
Source: Accord Fintech
7/08/2023 3:29:34 PM
Commercial LPG cylinder prices cut by Rs 99.75 with effect from today Oil marketing companies on Tuesday reduced the prices of commercial LPG cylinders by Rs 99.75, however the prices of domestic cooking gas cylinders have been kept unchanged, as per sources. The revised prices are effective from Tuesday onwards. After the reduction in prices, a commercial LPG cylinder will now cost Rs 1,680 in Delhi. The previous revision in prices of a 19 kg commercial LPG cylinder was done last month. Prices though differ from state to state, due to different tax...
Commercial LPG cylinder prices cut by Rs 99.75 with effect from today
Commercial LPG cylinder prices cut by Rs 99.75 with effect from today
Source: IANS
1/08/2023 10:07:44 AM
Output of eight core industries expands at five-month high of 8.2% in June 2023 The output of eight core industries expanded at a five-month high of 8.2 per cent in June 2023 on healthy performance by sectors such as natural gas and steel. However, production growth was slower than 13.1 per cent recorded in June 2022. Core sector growth in June is the highest since January 2023 when the key sectors expanded at 9.7 per cent. In May 2023, the growth rate was 5 per cent. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement ...
Output of eight core industries expands at five-month high of 8.2% in June 2023
Output of eight core industries expands at five-month high of 8.2% in June 2023
Source: Accord Fintech
1/08/2023 9:39:05 AM
India raises windfall tax on petroleum crude The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1. A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday. The windfall tax on petrol and aviation turbine fuel has been left unchanged. Earlier this month, the government raised the windfall tax on petroleum crude to 1,600 Indian rupees per tonne from zero....
India raises windfall tax on petroleum crude
India raises windfall tax on petroleum crude
Source: Reuters
1/08/2023 9:21:03 AM
Oil holds near three-month high on signs supply is tightening Oil price were little changed on Tuesday, trading near a three-month high reached on Monday, on signs of tightening global supply as producers implement output cuts and strong demand in the United States, the world's biggest fuel consumer. Brent crude futures for October were at $85.30 a barrel at 0135 GMT, down 13 cents or 0.15% lower from its close. Front-month Brent settled at its highest since April 13 on Monday. U.S. West Texas Intermediate crude was at $81.69 a barrel, down 0....
Oil holds near three-month high on signs supply is tightening
Oil holds near three-month high on signs supply is tightening
Source: Reuters
1/08/2023 8:48:10 AM
Oil on track for biggest monthly gains in over a year Oil prices hovered near three-month highs on Monday, set to post their biggest monthly gains in over a year on expectations that Saudi Arabia would extend voluntary output cuts into September and tighten global supply. Brent crude futures dipped 9 cents to $84.90 a barrel by 0005 GMT while U.S. West Texas Intermediate crude was at $80.41 a barrel, down 17 cents. The September Brent contract will expire later on Monday. The more active October contract was at $84.23 a barrel, down 18 cen...
Oil on track for biggest monthly gains in over a year
Oil on track for biggest monthly gains in over a year
Source: Reuters
31/07/2023 9:03:17 AM
Oil climbs close to April peak on tighter supply Oil climbed on Thursday, with Brent crude topping $84 a barrel for the first time since April, supported by supply tightness owing to OPEC+ production cuts and renewed optimism on the outlook for Chinese demand and global growth. Crude has posted four consecutive weekly gains on an expected tightening of supply because of output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, as well as some involuntary outages. Brent cru...
Oil climbs close to April peak on tighter supply
Oil climbs close to April peak on tighter supply
Source: Reuters
27/07/2023 8:01:57 PM
Commodity Article : Gold settled lower ahead of US Fed meeting; Crude extends gains Says Prathamesh Mallya, Angel One Below is Gold Article by Mr. Prathamesh Mallya, DVP Research, Non-Agro Commodities & Currency, Angel One Ltd.        GOLD Gold traded cautiously on Monday as traders await a potential interest rate hike and monetary policy clues from the Federal Reserve. Geopolitical tensions provided some safe-haven demand, but the focus remained on central bank decisions. Gold is sensitive to rising interest rates, which increase the opportunity c...
Commodity Article : Gold settled lower ahead of US Fed meeting; Crude extends gains Says Prathamesh Mallya, Angel One
Commodity Article : Gold settled lower ahead of US Fed meeting; Crude extends gains Says Prathamesh Mallya, Angel One
Source: Angel One Ltd
25/07/2023 11:07:34 AM
Weekly Outlook on Gold, Silver, Crude Oil, Copper And NCDEX Dhaniya By Mr. Anuj Gupta, IIFL Securities Below are Views on Weekly Gold, Silver, Crude Oil And Base Metals Outlook By Mr. Anuj Gupta, Vice President, IIFL Securities Last week we saw a range bound Trend in gold and silver prices, however at the starting of the week we gold tested 59884 levels, and silver tested 76674 levels.  We saw profit booking at the last trading day of the week and gold closed down by 0.06% at 59298 levels. Silver closed down by 1.37% at 74950 levels. The overall Trend of gold and silver are ...
Weekly Outlook on Gold, Silver, Crude Oil, Copper And NCDEX Dhaniya By Mr. Anuj Gupta, IIFL Securities
Weekly Outlook on Gold, Silver, Crude Oil, Copper And NCDEX Dhaniya By Mr. Anuj Gupta, IIFL Securities
Source: IIFL Securities Ltd.
22/07/2023 6:02:24 PM
Oil steady as weak Chinese economic data offsets gains from lower oil stocks Brent oil prices were little changed on Friday and were set to close flat for the week after three straight weeks of gains, as markets weigh lower U.S. crude inventories and tapering interest rate hikes against weak Chinese economic data that could cap demand. Brent futures rose 3 cents to $79.67 a barrel by 0016 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 9 cents to $75.74 a barrel. Prices closed marginally higher on Thursday. Brent was on track to close down 0.2% for t...
Oil steady as weak Chinese economic data offsets gains from lower oil stocks
Oil steady as weak Chinese economic data offsets gains from lower oil stocks
Source: Reuters
21/07/2023 8:39:31 AM
Oil edges higher on lower U.S. crude stocks, cautious outlook Oil prices crept higher on Thursday as a lower-than-expected drop in U.S. crude inventories and a weaker demand outlook kept investors cautious. September Brent futures climbed 24 cents, or 0.3%, to $79.70 a barrel by 1255 GMT, while August U.S. West Texas Intermediate (WTI) crude gained 26 cents, or 0.4%, to $75.61 a barrel. The August WTI contract expires on Thursday. The more active September WTI crude was 31 cents, or 0.4%, higher at $75.60. Prices fell in the previous session af...
Oil edges higher on lower U.S. crude stocks, cautious outlook
Oil edges higher on lower U.S. crude stocks, cautious outlook
Source: Reuters
20/07/2023 7:09:05 PM
Oil prices open lower on dollar strength, profit-taking Oil prices slipped in early Asian trade on Thursday, extending the previous session's losses, as the dollar strengthened and on profit-taking after U.S. crude oil stocks fell less than expected. Brent futures dipped 14 cents, or 0.2%, to $79.32 a barrel by 0001 GMT, while U.S. West Texas Intermediate (WTI) crude fell 15 cents to $75.20 a barrel. Strength in the U.S. dollar index weighed on prices. The dollar bounced on Wednesday after sentiment was boosted by inflation in the United...
Oil prices open lower on dollar strength, profit-taking
Oil prices open lower on dollar strength, profit-taking
Source: Reuters
20/07/2023 8:41:50 AM
Brent oil hovers above $80 as inflation worries ease The Brent crude oil benchmark hovered above $80 a barrel on Wednesday, buoyed by China's pledge to reinvigorate economic growth and expectations that the U.S. Federal Reserve will stop raising interest rates soon. Brent futures were up 63 cents at $80.26 a barrel by 1325 GMT while U.S. West Texas Intermediate (WTI) crude was up 51 cents at $76.26. China's top economic planner pledged on Tuesday to roll out policies to "restore and expand" consumption in the world&...
Brent oil hovers above $80 as inflation worries ease
Brent oil hovers above $80 as inflation worries ease
Source: Reuters
19/07/2023 7:24:02 PM
Oil prices up on China economic support pledge, tighter supply Global oil prices rose on Wednesday, boosted by China's pledge to support economic growth, tighter supply from Russia and on lower weekly U.S. crude oil inventories. Brent futures rose 9 cents, or 0.1%, to $79.72 a barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude was steady at $75.75 per barrel. China's top economic planner pledged on Tuesday that it would roll out policies to "restore and expand" consumption in the world's second-largest economy ...
Oil prices up on China economic support pledge, tighter supply
Oil prices up on China economic support pledge, tighter supply
Source: Reuters
19/07/2023 8:45:06 AM
Oil steadies as investors eye US crude supplies Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both benchmark contracts fell more than 1.5% on Monday following lacklustre economic data from China, the world’s largest oil importer, as well as the partial restart of some Libyan oilfields. Brent crude was up 7 cents at $78.57 a barrel by 1330 GMT, while U.S. West Texas Intermediate (WTI) crude rose 10 cents to $74.25 ...
Oil steadies as investors eye US crude supplies
Oil steadies as investors eye US crude supplies
Source: Reuters
18/07/2023 7:41:11 PM
Oil prices inch up as US crude supplies seen tightening  Oil prices edged higher in early trade on Tuesday after sinking in the previous session on weaker-than-expected Chinese economic growth, as investors eyed a possible tightening of U.S. crude supplies. Brent crude gained 11 cents to $78.61 a barrel by 0017 GMT, while U.S. West Texas Intermediate crude rose 15 cents to $74.30 a barrel. Both contracts fell more than 1.5% on Monday. Investors awaited industry data later on Tuesday that was expected to show U.S. crude oil stockpiles...
Oil prices inch up as US crude supplies seen tightening
Oil prices inch up as US crude supplies seen tightening
Source: Reuters
18/07/2023 8:43:55 AM
Oil slides more than 1% as Chinese GDP dents demand hopes Oil dropped by more than 1% on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world's second-biggest oil consumer, while a partial restart of halted Libyan output also pressured prices. China's gross domestic product (GDP) grew 6.3% year-on-year in the second quarter, compared with analyst forecasts of 7.3%, with its post-pandemic recovery faltering rapidly owing to weakening demand at home and abroad. "The GDP came in below exp...
Oil slides more than 1% as Chinese GDP dents demand hopes
Oil slides more than 1% as Chinese GDP dents demand hopes
Source: Reuters
17/07/2023 7:29:42 PM
Oil slips after Libya resumes output, China data eyed Oil prices dipped for a second session on Monday after Libya resumed production over the weekend while China, the world's largest crude importer, is expected to release economic data showing that its post-pandemic recovery is fizzling out. Brent crude futures fell 57 cents, or 0.7%, to $79.30 a barrel by 0055 GMT while U.S. West Texas Intermediate crude was at $74.90 a barrel, down 52 cents, or 0.7%. Prices softened after both benchmarks last week notched a third straight week of ga...
Oil slips after Libya resumes output, China data eyed
Oil slips after Libya resumes output, China data eyed
Source: Reuters
17/07/2023 8:42:41 AM
Oil set for third straight week of gains on tight supply Oil prices were set to register their third consecutive weekly gain for the first time since April, rising on Friday due to supply disruptions in Libya and Nigeria, and hopes of higher demand for crude due to easing U.S. inflation. Brent crude futures had added 5 cents, or 0.1%, to $81.41 per barrel by 0242 GMT. U.S. West Texas Intermediate crude futures rose 9 cents, or 0.1%, to $76.98. Both benchmarks, which have risen about 9% this month, are on track to settle higher for a fourth sessi...
Oil set for third straight week of gains on tight supply
Oil set for third straight week of gains on tight supply
Source: Reuters
14/07/2023 9:17:15 AM
Brent oil hovers above $80 as US inflation eases Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world's biggest economy are close to their peak. Data released on Wednesday showed U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to subside. Markets expect one more interest rate rise before the U.S. rate-hiking cycle peaks. Higher rates can slow economic growth and reduce oi...
Brent oil hovers above $80 as US inflation eases
Brent oil hovers above $80 as US inflation eases
Source: Reuters
13/07/2023 7:52:23 PM
Oil prices rise in early trade as US inflation cools Oil prices rose in early Asian trade on Thursday after U.S. inflation and economic data sparked hopes the Federal Reserve may have fewer interest rate hikes in store for the world's biggest economy. Brent crude futures rose 6 cents to $80.17 per barrel by 0004 GMT and U.S. West Texas Intermediate crude futures were up 4 cents, or $75.79. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years. Markets expec...
Oil prices rise in early trade as US inflation cools
Oil prices rise in early trade as US inflation cools
Source: Reuters
13/07/2023 8:48:29 AM
Weekly Outlook on Crude Oil By Mr. Anuj Gupta, IIFL Securities Below are Views on Crude Oil Outlook By Mr. Anuj Gupta, Vice President, IIFL Securities Top oil exporters Saudi Arabia and Russia announced fresh output cuts this week bringing total reductions by OPEC+, and its allies, to around 5 million barrels per day (bpd), or about 5% of global oil demand. As expected Mcx crude oil prices increased by 4.51% and closed at 4 week's high levels at 6069 levels. Brent is also increased by 4.18% at $78.24 levels per barel.  It climbed on t...
Weekly Outlook on Crude Oil By Mr. Anuj Gupta, IIFL Securities
Weekly Outlook on Crude Oil By Mr. Anuj Gupta, IIFL Securities
Source: IIFL Securities Ltd.
8/07/2023 10:58:58 AM
Commodity Article : Gold prices dragged lower; Crude settles higher Says Prathamesh Mallya, Angel One Below is Gold Article by Mr. Prathamesh Mallya, DVP Research, Non-Agro Commodities & Currency, Angel One Ltd.      Gold prices dragged lower; Crude settles higher. GOLD Gold prices declined on Wednesday due to a strengthening U.S. dollar and rising U.S. Treasury yields. The release of minutes from the Federal Reserve's June policy meeting confirmed the market's expectation that interest rates would remain higher for an extended p...
Commodity Article : Gold prices dragged lower; Crude settles higher Says Prathamesh Mallya, Angel One
Commodity Article : Gold prices dragged lower; Crude settles higher Says Prathamesh Mallya, Angel One
Source: Angel One Ltd
6/07/2023 11:43:39 AM
Commodity Article :Gold edges higher; Crude climbs higher as supply cuts weigh Says Prathamesh Mallya, Angel One Below is "Daily Commodity Article" by Mr. Prathamesh Mallya, DVP Research, Non-Agro Commodities & Currency, Angel One Ltd. Gold edges higher; Crude climbs higher as supply cuts weigh  GOLD Gold prices edged higher on Tuesday as weak U.S. economic data raised speculation that the Federal Reserve may reconsider its rate-hike plans. Traders are eagerly awaiting the minutes of the central bank's last meeting for ...
Commodity Article :Gold edges higher; Crude climbs higher as supply cuts weigh Says Prathamesh Mallya, Angel One
Commodity Article :Gold edges higher; Crude climbs higher as supply cuts weigh Says Prathamesh Mallya, Angel One
Source: Angel One Ltd
5/07/2023 11:16:14 AM
Indian refiners' crude processing rises in May  Indian refiners processed 6% more crude oil in May, provisional government data made public on Monday showed, seeing their biggest month-on-month increase since December 2022. Refinery throughput in May rose to 5.37 million barrels per day (22.7 million tonnes), an uptick of 0.4% compared with May last year. In April, throughput fell 3.8% year-on-year, hitting a five-month low in barrel-per-day terms due to ongoing maintenance. India's crude oil imports in May rose 2% from ...
Indian refiners' crude processing rises in May
Indian refiners' crude processing rises in May
Source: Reuters
3/07/2023 7:26:27 PM
Output of eight core industries grows by 4.3% in May 2023 The output of eight core industries grew 4.3 per cent year-on-year in May 2023, the same rate as in the previous month, but much slower compared with 19.3 per cent in the year-ago period. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). Coal production, having 10.33 per cent weight increased by 7.2 per cent in May, 2023...
Output of eight core industries grows by 4.3% in May 2023
Output of eight core industries grows by 4.3% in May 2023
Source: Accord Fintech
3/07/2023 11:28:53 AM
Weekly Outlook on Gold, Silver, Crude Oil And Base Metals By Mr. Anuj Gupta, IIFL Securities Below are Views on Weekly Gold, Silver, Crude Oil And Base Metals Outlook By Mr. Anuj Gupta, Vice President, IIFL Securities Gold / Silver Last week gold prices corrected sharply and closed with a negative note, however silver prices increased and closed with a positive note. MCX gold corrected by 0.21% and closed at 58175 levels, In the international market it is trading at $1919 levels per ounce. MCX Silver increased sharply by 2.84% and closed at 70020 levels. In the international...
Weekly Outlook on Gold, Silver, Crude Oil And Base Metals By Mr. Anuj Gupta, IIFL Securities
Weekly Outlook on Gold, Silver, Crude Oil And Base Metals By Mr. Anuj Gupta, IIFL Securities
Source: IIFL Securities Ltd.
2/07/2023 9:32:59 AM
Weekly Oulook : Gold, Silver, Crudeoil & Copper By Anuj Gupta, IIFL Securities Last week we observed a negative week for gold and silver. We saw the correction in gold and silver was due to the FOMC's statement on expectation to hike interest rates two times in the year. But at the last trading days of the week the ECB increased the interest rates and we observed a sharp recovery in gold and silver prices and on another hand the dollar index corrected below 5 week's low levels. Last week mcx gold prices corrected by 0.82% and closed at 59352 levels and in the...
Weekly Oulook : Gold, Silver, Crudeoil & Copper By Anuj Gupta, IIFL Securities
Weekly Oulook : Gold, Silver, Crudeoil & Copper By Anuj Gupta, IIFL Securities
Source: IIFL Securities Ltd
17/06/2023 6:55:20 PM
Brent crude price trajectory linked to US rate action and developments in China: Emkay Wealth Management Mumbai: Emkay Wealth Management, the wealth management and advisory arm of Emkay Global Financial Services has released a note on Brent crude price trajectory, the factors that will be at play in the near future. Oil prices have been range bound for most parts of CY23. In fact, crude started the year trading in the range of 80-85 levels. It has cooled off from that level despite OPEC announcing a cut in the output earlier this month. US & China will show the way The fall in oil...
Brent crude price trajectory linked to US rate action and developments in China: Emkay Wealth Management
Brent crude price trajectory linked to US rate action and developments in China: Emkay Wealth Management
Source: Emkay Wealth Management
13/06/2023 12:16:59 PM
Commodity Article : Gold crawls back higher, Crude slips over 1 percent Says Prathamesh Mallya, Angel One Below is Daily Commodity Article by Mr. Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd   GOLD After falling more than 1% on Wednesday, gold prices recovered in the previous session, concluding with more than 1% gains, recouping prior session losses. Gold prices rose more than 1% on Thursday as the dollar fell and bond yields fell in response to a significant increase in US weekly unemployment claims. This strengthe...
Commodity Article : Gold crawls back higher, Crude slips over 1 percent Says Prathamesh Mallya, Angel One
Commodity Article : Gold crawls back higher, Crude slips over 1 percent Says Prathamesh Mallya, Angel One
Source: Angel One Ltd
9/06/2023 11:19:02 AM
Crude oil to turn bearish in the week ahead by Tejas Anil Shigrekar, Angel One Ltd Crude Oil traded in the negative zone, before witnessing a recovery during the initial weeks of May month, the price of oil has risen about 10%, owing primarily to OPEC's unexpected cut that went into force at the beginning of this month.  Technically, the price met resistance at 6075, which is the 50 EMA sloping downwards on the four-hour time frame, which was breached on Monday 5th June 2023. The Stochastic oscillator is extremely overbought, indicating a strong correction. Howe...
Crude oil to turn bearish in the week ahead by Tejas Anil Shigrekar, Angel One Ltd
Crude oil to turn bearish in the week ahead by Tejas Anil Shigrekar, Angel One Ltd
Source: Angel One Ltd
8/06/2023 1:42:15 PM
Commodity Article : Gold extends gains, Oil settles lower on demand worries Says Prathamesh Mallya, Angel One Below is Daily Commodity Article by Mr. Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd   Gold extends gains, Oil settles lower on demand worries   GOLD Gold prices on Tuesday were marginally up, maintaining the positive streak and building on the gains for the week. Gold prices are waiting for more clues from the US Fed meeting next week, which will set the tone for the next few days. Following ten conse...
Commodity Article : Gold extends gains, Oil settles lower on demand worries Says Prathamesh Mallya, Angel One
Commodity Article : Gold extends gains, Oil settles lower on demand worries Says Prathamesh Mallya, Angel One
Source: Angel One Ltd
7/06/2023 11:53:28 AM
Oil prices steady as fears over supply tightness counter demand woes  Oil prices steadied on Wednesday after the previous session's losses, as demand concerns owing to slow global economic growth were offset by fears of tighter global supply following Saudi Arabia's pledge to deepen output cuts. Brent crude futures were up 9 cents, or 0.1%, at $76.38 a barrel at 0039 GMT. The U.S. West Texas Intermediate crude futures rose 11 cents, or 0.2%, to $71.85 a barrel. Both benchmarks eased about 1% on Tuesday, paring some of Monday's gains that...
Oil prices steady as fears over supply tightness counter demand woes
Oil prices steady as fears over supply tightness counter demand woes
Source: Reuters
7/06/2023 9:00:44 AM