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
In a first, gem & jewellery exports upto Rs 1 mn allowed via courier In a major milestone, the Gem and Jewellery Export Promotion Council (GJEPC) has facilitated India’s first exports through the “courier mode” from Mumbai – as against the regular ‘cargo mode’ - marking a huge leap in simplifying international trade, an official said here. The country’s first four jewellery exports from Caratlane worth more than $1,000, via an Air India flight to the US departed on Wednesday. Terming it as a ‘historical ste...
In a first, gem & jewellery exports upto Rs 1 mn allowed via courier
In a first, gem & jewellery exports upto Rs 1 mn allowed via courier
Source: IANS
8/09/2023 4:25:35 PM
Oil India plans net zero by 2040, to invest $2 billion in projects - sources Oil India Ltd aims to invest 165 billion rupees ($1.98 billion) in clean energy projects to meet its 2040 net zero carbon emissions goal, said two sources familiar with state-run energy companies' net zero strategy. The companies are investing billions of dollars in projects aimed at reducing emissions as one of the world's biggest emitters of greenhouse gases, aims for zero by 2070. State-run energy companies - Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, G...
Oil India plans net zero by 2040, to invest $2 billion in projects - sources
Oil India plans net zero by 2040, to invest $2 billion in projects - sources
Source: Reuters
8/09/2023 3:56:19 PM
Gold set for weekly dip with resilient US economy in focus Gold firmed on Friday as the dollar retreated from highs but the bullion was still en route to a weekly fall as traders looked beyond a widely expected pause by the Federal Reserve this month to focus on persistently resilient U.S. data. Spot gold was up 0.3% to $1,924.98 per ounce by 0345 GMT, but set for a 0.7% weekly fall. U.S. gold futures rose 0.3% to $1,949.00. "Market participants are looking for other asset classes that can give them higher returns. That, at this moment, se...
Gold set for weekly dip with resilient US economy in focus
Gold set for weekly dip with resilient US economy in focus
Source: Reuters
8/09/2023 9:45:20 AM
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
Gold gains as bond yields tick lower, traders await more US data Gold prices edged higher on Thursday, as a slight pullback in Treasury yields offered some respite from a robust dollar, while investors looked forward to more U.S. economic data to gauge the outlook for interest rates. Spot gold was up 0.3% at $1,922.70 per ounce by 1213 GMT, after hitting a one-week low on Wednesday. U.S. gold futures were up 0.1% at $1,946.80. "Quite clearly we've seen a reversal in U.S. economic data from weakness to strength recently and that once again ad...
Gold gains as bond yields tick lower, traders await more US data
Gold gains as bond yields tick lower, traders await more US data
Source: Reuters
7/09/2023 8:20:16 PM
Silver likely to touch Rs 85,000 in next 12 months By Motilal Oswal Financial Services According to Motilal Oswal Financial Services Report, after experiencing significant gains in the first four months of 2023, silver encountered some volatility at higher price levels. After every major dip domestic silver price have been seeing a range shift on the higher side and MOFSL expects this trend to continue. MOFSL expects that the momentum in Silver is likely to continue, and could add another 15% over the next few quarters. MOFSL advises continuous accumulation at lowe...
Silver likely to touch Rs 85,000 in next 12 months By Motilal Oswal Financial Services
Silver likely to touch Rs 85,000 in next 12 months By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
7/09/2023 12:50:12 PM
Gold hovers near 1-week low as dollar firms on US data Gold prices lingered near a one-week low on Thursday following five consecutive sessions of losses as the dollar sat atop mid-March highs after data showed the U.S. services sector unexpectedly gained steam in August. Spot gold was steady at $1,919.68 per ounce by 0410 GMT, but still hovered close to its lowest level since Aug. 29 hit in the previous session. U.S. gold futures held their ground at $1,944.00. The U.S. dollar was perched at its highest since March 16 and the benchmark U.S...
Gold hovers near 1-week low as dollar firms on US data
Gold hovers near 1-week low as dollar firms on US data
Source: Reuters
7/09/2023 10:29:27 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
Government may cut petrol, diesel price by Rs 3-5 a litre around Diwali Following the recent cut in domestic LPG prices, the Central government may cut petrol, diesel price by Rs 3-5 a litre around Diwali given that key state elections start from November-December, JM Financial Institutional Securities said in a report. Last week, the government cut the price of the domestic 14.2kg LPG cylinder by Rs 200/LPG cylinder for all 330 million consumers w.e.f. August 30. This was to give relief to the common man from the recent surge in inflation. OMCs marketin...
Government may cut petrol, diesel price by Rs 3-5 a litre around Diwali
Government may cut petrol, diesel price by Rs 3-5 a litre around Diwali
Source: IANS
6/09/2023 4:11:47 PM
India`s top palm oil buyer expects 26% jump in imports to record 10 million T India's palm oil imports are set to jump 26% to a record high in the 2022/23 year ending on Oct. 31, as a recovery in consumption and competitive prices prompt refiners to increase purchases, the country's top palm oil buyer told Reuters on Wednesday. Higher purchases by the world's biggest importer of palm oil could help to lower inventories in top producing Indonesia and Malaysia and support benchmark futures. "Refiners are increasing their purchases for the upcoming ...
India`s top palm oil buyer expects 26% jump in imports to record 10 million T
India`s top palm oil buyer expects 26% jump in imports to record 10 million T
Source: Reuters
6/09/2023 3:27:27 PM
Oil jumps above $90 as Saudi Arabia extends production cuts Oil prices jumped dramatically on Tuesday after Saudi Arabia announced that it would extend its production cuts until the end of the year, while Russia said it would extend its export cuts of 3,00,000 barrels per day (bpd) for the same period, Oil Price reported. Russia extended its voluntary decision to curb crude exports by 300,000 bpd until December 2023, acting in concert with Saudi Arabia, with the alleged aim of maintaining stability and balance in the oil markets. ICE Brent price...
Oil jumps above $90 as Saudi Arabia extends production cuts
Oil jumps above $90 as Saudi Arabia extends production cuts
Source: IANS
6/09/2023 11:18:08 AM
Gold slides to 1-week low on elevated US dollar, yields Gold prices extended losses to hit their lowest level in a week on Wednesday as U.S. Treasury yields and the dollar strengthened on expectations that interest rates are likely to remain high. Spot gold was subdued at $1,925.70 per ounce by 0313 GMT, after posting its biggest one-day loss since Aug. 1 on Tuesday. U.S. gold futures dipped 0.1% to $1,951. The U.S. dollar hovered near six-month highs hit on Tuesday, while 10-year bond yields were at over one-week highs as markets weighed cu...
Gold slides to 1-week low on elevated US dollar, yields
Gold slides to 1-week low on elevated US dollar, yields
Source: Reuters
6/09/2023 9:49:27 AM
Domestic sugar prices rise 3% to 6-yr high owing to poor rains Domestic sugar prices have risen by 3 per cent in the last 15 days to their highest levels in six years, according to industry sources. Owing to shortfall in rains in the sugarcane growing regions, the prices have risen even as the festival season is round the corner, when consumption of sweets is set rise multifold. This could add to food inflation and discourage the government from allowing sugar exports, supporting global prices which are near their highest in more than a decade. ...
Domestic sugar prices rise 3% to 6-yr high owing to poor rains
Domestic sugar prices rise 3% to 6-yr high owing to poor rains
Source: IANS
6/09/2023 9:35:41 AM
Oil gains on supply woes after OPEC+ output cuts Oil prices ticked up in early Asian trade on Wednesday after rising over 1% in the previous session, as markets worried about a supply shortage after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. Brent crude futures rose by 14 cents to $90.18 a barrel at 0215 GMT. U.S. West Texas Intermediate crude (WTI) futures gained 12 cents at $86.81 a barrel. Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-mo...
Oil gains on supply woes after OPEC+ output cuts
Oil gains on supply woes after OPEC+ output cuts
Source: Reuters
6/09/2023 8:53:47 AM
Indian sugar production concerns drive local prices to 6-year high Sugar prices in India have jumped by more than 3% in a fortnight to their highest level in six years, traders and industry officials said, as limited rainfall in the country's key growing regions raised production concerns for the upcoming season. This could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices which are near their highest in more than a decade. "Sugar mills are worried that production could fall sharply in the new...
Indian sugar production concerns drive local prices to 6-year high
Indian sugar production concerns drive local prices to 6-year high
Source: Reuters
5/09/2023 5:05:26 PM
Gold prices tread water as markets weigh Fed policy path Gold prices edged lower on Tuesday as the dollar stood firm near recent highs, although trading was fairly muted with markets looking for more cues on the U.S. Federal Reserve's policy path after a widely expected interest rate pause this month. Spot gold was down 0.1% at $1,936.89 per ounce by 0356 GMT. U.S. gold futures fell 0.2% to $1,962.70 after a U.S. holiday on Monday. "Much remains to be seen if rate cuts in 2024 follow and to what extent," said Harshal Barot, a se...
Gold prices tread water as markets weigh Fed policy path
Gold prices tread water as markets weigh Fed policy path
Source: Reuters
5/09/2023 10:11:24 AM
Palm oil buying lifts India`s August edible oil imports to record India's edible oil imports in August rose 5% to a record 1.85 million metric tons as refiners purchased more than 1 million tons of palm oil for the second consecutive month to build stocks for upcoming festivals, four dealers told Reuters. Higher purchases by the world's biggest importer of vegetable oils could help to lower palm oil stocks in Indonesia and Malaysia and support benchmark futures. The buying has helped strengthen soybean oil futures and could reduce inventories in ...
Palm oil buying lifts India`s August edible oil imports to record
Palm oil buying lifts India`s August edible oil imports to record
Source: Reuters
4/09/2023 12:29:29 PM
Gold prices climb towards 1-month peak on Fed pause bets Gold prices climbed on Monday towards a one-month peak scaled in the previous session, supported by a slight pullback in the dollar and prospects that the U.S. Federal Reserve would take a pause from interest rate hikes this year. Spot gold gained 0.3% to $1,945.40 per ounce by 0334 GMT, after climbing to as high as $1,952.79 on Friday. U.S. gold futures added 0.2% to $1,971.70. "Gold is hovering under resistance at the $1,951 level in thin trading conditions given the U.S. holiday...
Gold prices climb towards 1-month peak on Fed pause bets
Gold prices climb towards 1-month peak on Fed pause bets
Source: Reuters
4/09/2023 9:46:18 AM
Oil rises on China, US economic data and OPEC+ cut expectations Oil prices ticked up in Asian morning trade on Monday, as market sentiment was buoyed by positive China and U.S. economic data, as well as expectations of ongoing crude supply cuts from major producers. Brent crude was up 17 cents, or 0.2%, at $88.72 a barrel at 0015 GMT. U.S. West Texas Intermediate crude (WTI) rose 25 cents, roughly 0.3%, to $85.80. The sustained upward price movement comes after both contracts settled at their highest levels in more than half a year last week, breaki...
Oil rises on China, US economic data and OPEC+ cut expectations
Oil rises on China, US economic data and OPEC+ cut expectations
Source: Reuters
4/09/2023 8:49:46 AM
India`s rice area grows on higher prices, cotton sowing lags Indian farmers have planted 39.8 million hectares (98.3 million acres) with rice, up 3.7% on the same period last year, farm ministry data showed on Friday, as record high prices prompted farmers to expand the area. Higher rice planting could alleviate supply concerns in the world's second biggest producer and consumer of the grain. India surprised buyers in July by imposing a ban on the export of widely consumed non-basmati white rice, following a ban on broken rice exports last ye...
India`s rice area grows on higher prices, cotton sowing lags
India`s rice area grows on higher prices, cotton sowing lags
Source: Reuters
2/09/2023 3:56:13 PM
India cuts windfall tax on petroleum crude The Indian government will cut the windfall tax on petroleum crude to 6,700 rupees ($81.03) per metric ton from 7,100 rupees starting on Saturday, according to a government notification issued on Friday. The government will also raise the windfall tax on diesel to 6 rupees per litre from 5.50 rupees, the notification said. The windfall tax on aviation turbine fuel will increase to 4 rupees per litre from 2 rupees, while the levy on petrol will remain at zero, according to the notificati...
India cuts windfall tax on petroleum crude
India cuts windfall tax on petroleum crude
Source: Reuters
2/09/2023 10:45:43 AM
Dry weather over India driving up rally in sugar prices The SandP GSCI Agriculture Index is finishing August 2 per cent lower MOM, reaching two-year lows. Grains led the decline, with wheat and corn futures both markedly down, Rabo Bank said in a research. Sizable US grain acreage following the largest annual increase in seven years, a record Brazilian corn harvest, and the continuation of significant wheat export flows from the Black Sea combined to drive prices lower. However, weather risks remain high for sugar, cocoa, robusta coffee, and...
Dry weather over India driving up rally in sugar prices
Dry weather over India driving up rally in sugar prices
Source: IANS
1/09/2023 2:32:20 PM
Gold muted as investors focus on US jobs data for Fed's rate course Gold prices looked set on Friday to wrap up their second straight week of gains, helped by diminished chances of U.S. interest rate hikes this year after a data-filled week that concludes with the pivotal jobs report later in the day. Spot gold steadied at $1,938.92 per ounce by 0336 GMT, but was poised for a more than 1% weekly gain after prices touched one-month highs on Wednesday. U.S. gold futures were trading around $1,965.60. "The data from the U.S. has been on the soft side ...
Gold muted as investors focus on US jobs data for Fed's rate course
Gold muted as investors focus on US jobs data for Fed's rate course
Source: Reuters
1/09/2023 9:53:14 AM
Oil set to snap two-week losing streak on tightening supplies Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year. Major benchmarks rose slightly in early Asian trade, with the U.S. West Texas Intermediate crude (WTI) up 7 cents, or 0.1%, at $83.70 a barrel, while Brent crude was also up 7 cents at $86.90/bbl as of 0107 GMT. Analysts expect Saudi Arabia to extend a vol...
Oil set to snap two-week losing streak on tightening supplies
Oil set to snap two-week losing streak on tightening supplies
Source: Reuters
1/09/2023 9:18:52 AM
EOGEPL achieves record sales volume of 2.18 BCF in Q1FY24, posts 12% rise in PAT to Rs 81 crore Essar Oil and Gas Exploration and Production Ltd (EOGEPL), a leader in the unconventional hydrocarbon space, on Thursday announced its Q1FY24 results with a revenue of Rs 190 crore, EBITDA of Rs 150 crore and a net profit of Rs 81 crore. The PAT (profit after tax) for the quarter increased by 12 per cent YoY backed by improvement in sales volume. However, quarterly revenue and EBIDTA was lower by ~14 per cent YoY due to softening of crude oil prices by 24 per cent, which was cushioned by i...
EOGEPL achieves record sales volume of 2.18 BCF in Q1FY24, posts 12% rise in PAT to Rs 81 crore
EOGEPL achieves record sales volume of 2.18 BCF in Q1FY24, posts 12% rise in PAT to Rs 81 crore
Source: IANS
31/08/2023 4:28:55 PM
Gold firms near one-month high with US inflation data on tap Gold prices firmed near one-month highs on Thursday as a fresh set of soft U.S. data added to expectations that the Federal Reserve will pause rake hikes this year, although inflation readings due later in the day could amend this outlook. Spot gold was up 0.2% at $1,945.40 per ounce by 0331 GMT. U.S. gold futures steadied at $1,972.40. Despite this week's gains, bullion is on track for a monthly decline of nearly 1% as the U.S. dollar eyes its first monthly rise in three and U.S. T...
Gold firms near one-month high with US inflation data on tap
Gold firms near one-month high with US inflation data on tap
Source: Reuters
31/08/2023 10:05:57 AM
Oil prices up on tighter supply, China PMI in focus Global oil prices were up in early trade on Thursday backed by tighter U.S. supply, with a focus on China factory activity due later in the day amid recent weak economic expansion data in the world's second-biggest economy. Brent crude futures contract for October and which expires on Thursday was up 14 cents, or 0.16%, at $86 per barrel and the more active November contract was up 10 cents, or 0.12%, at $85.34 at 0039 GMT. U.S. West Texas Intermediate crude futures gained 10 cents,...
Oil prices up on tighter supply, China PMI in focus
Oil prices up on tighter supply, China PMI in focus
Source: Reuters
31/08/2023 8:59:03 AM
Gold at 3-week high as dollar slips Gold rallied to its three-week high as the US dollar and Treasury yields slipped amidst weak economic data points, says Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services. Today focus will be on US GDP and Private payroll data, which if reported lower than expectations could further support gains for gold and silver prices, he said. Broader trend on COMEX could be in the range of $1,915-1,950 and on domestic front prices could hover in the range of Rs 59...
Gold at 3-week high as dollar slips
Gold at 3-week high as dollar slips
Source: IANS
30/08/2023 3:42:43 PM
India exempts Singapore from rice export ban due to `close strategic partnership`   India has agreed to exempt Singapore from its ban on rice exports owing to “very close strategic partnership”, the External Affairs Ministry said. "India and Singapore enjoy a very close strategic partnership, characterised by shared interests, close economic ties and strong people to people connect. In view of this special relationship, India has decided to allow export of rice to meet the food security requirements of Singapore," Ministry spokesperson Arin...
India exempts Singapore from rice export ban due to `close strategic partnership`
India exempts Singapore from rice export ban due to `close strategic partnership`
Source: IANS
30/08/2023 2:51:51 PM
India will buy oil from all sources who offer the `lowest possible prices` - oil minister  India will buy oil from all sources that offer it at "lowest possible prices", the country's oil minister told broadcaster ET Now on Wednesday.
India will buy oil from all sources who offer the `lowest possible prices` - oil minister
India will buy oil from all sources who offer the `lowest possible prices` - oil minister
Source: Reuters
30/08/2023 11:38:58 AM
Gold near 3-week high as markets cut back US rate hike bets Gold prices hovered near three-week highs on Wednesday, as investors pared back bets of further U.S. interest rate hikes in response to soft economic readings, with more data eyed this week to analyse the outlook. Spot gold was flat at $1,936.17 per ounce by 0328 GMT, about $2 below its highest levels since Aug. 7 hit on Tuesday. U.S. gold futures steadied at $1,964.30. U.S. Treasury yields slipped to three-week lows and the dollar weakened on Tuesday, after data showed job openings dro...
Gold near 3-week high as markets cut back US rate hike bets
Gold near 3-week high as markets cut back US rate hike bets
Source: Reuters
30/08/2023 9:55:08 AM
LPG price cut to have financial implication of Rs 7,680 cr in current fiscal As the government on Tuesday announced Rs 200 cut in the price of cooking gas cylinders for all subscribers, the financial implication of the decision will come to around Rs 7,680 crore for the 2023-24 fiscal, official sources said. Ujjwala scheme subscribers already get Rs 200 subsidy on cooking gas cylinders, while the reduction of Rs 200 in prices of LPG cylinders announced on Tuesday will be on top of that, Information and Broadcasting Minister Anurag Thakur told mediapersons after the...
LPG price cut to have financial implication of Rs 7,680 cr in current fiscal
LPG price cut to have financial implication of Rs 7,680 cr in current fiscal
Source: IANS
30/08/2023 9:38:29 AM
Oil prices rise on large US stockpile draw, hurricane jitters Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S., the world's biggest fuel consumer, and as concerns about a hurricane in the Gulf of Mexico kept investors on edge. Brent crude futures for October rose 17 cents, or 0.2%, to $85.66 a barrel by 0133 GMT. The October contract expires on Thursday and the more active November contract was at $85.08 a barrel, up 17 cents. U.S. West Texas Intermediate crude futures gained 24 ce...
Oil prices rise on large US stockpile draw, hurricane jitters
Oil prices rise on large US stockpile draw, hurricane jitters
Source: Reuters
30/08/2023 9:04:29 AM
Indian rice shipments of 500,000 tons postponed after new duty- exporters India's move to impose a 20% duty on exports of parboiled rice has prompted buyers and sellers to postpone shipments of around 500,000 metric tons to after mid-October to avoid paying the tax, three leading exporters told Reuters on Tuesday. The delay in shipments from the world's biggest exporter of rice could deplete inventories in importers such as Benin, Ghana, Côte d'Ivoire, and Liberia, and boost local prices in those countries, which are already near multi-year hig...
Indian rice shipments of 500,000 tons postponed after new duty- exporters
Indian rice shipments of 500,000 tons postponed after new duty- exporters
Source: Reuters
29/08/2023 4:42:06 PM
Gold gains support from a dip in US dollar, bond yields Gold prices gained on Tuesday as the dollar and Treasury yields retreated from recent highs ahead of crucial U.S. inflation and jobs data this week that could define the outlook for interest rates. Spot gold climbed 0.3% to $1,924.84 per ounce by 0354 GMT, hovering close to its highest level since Aug. 10 reached on Monday. U.S. gold futures gained 0.3% to $1,952.90. Gold prices are seeing short-covering by short-term speculators as a minor key resistance at $1,907 that coincided with t...
Gold gains support from a dip in US dollar, bond yields
Gold gains support from a dip in US dollar, bond yields
Source: Reuters
29/08/2023 10:00:43 AM
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
Quote on Copper : Copper Gains Momentum Following Recent Dip, Fueled by Chinese Demand and Policy Measures says Mr. Saish Sandeep Sawant Dessai, Angel One Below the "Quote - Copper" by Mr. Saish Sandeep Sawant Dessai, Research Associate- Base Metals, Angel One Ltd   After experiencing a decline that led to copper prices reaching their lowest point in nearly two months, a glimmer of hope has emerged as the metal embarks on an upward trajectory. Both the LME and MCX copper have rebounded by almost 2 percent from their recent lows, benefiting from several favorable factors. Notably, even Shangh...
Quote on Copper : Copper Gains Momentum Following Recent Dip, Fueled by Chinese Demand and Policy Measures says Mr. Saish Sandeep Sawant Dessai, Angel One
Quote on Copper : Copper Gains Momentum Following Recent Dip, Fueled by Chinese Demand and Policy Measures says Mr. Saish Sandeep Sawant Dessai, Angel One
Source: Angel One Ltd
28/08/2023 4:12:49 PM
BP urges more oil, gas investment while speeding energy transition Global oil major BP said the world must invest in the production of oil and gas to avoid sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions. Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost energy spending and shift to coal, BP CEO Bernard Looney said in New Delhi. "We need to do both. We need to invest in today's energy system re...
BP urges more oil, gas investment while speeding energy transition
BP urges more oil, gas investment while speeding energy transition
Source: Reuters
28/08/2023 3:14:45 PM
Oil ticks higher after China moves to support flagging economy Oil prices ticked higher on Monday, along with equity markets, after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand. Brent crude rose 22 cents, or 0.3%, to $84.70 a barrel by 0049 GMT while U.S. West Texas Intermediate crude was at $80.08 a barrel, up 25 cents, or 0.3%. Oil benefited from a better tone on the opening, IG market analyst Tony Sycamore sai...
Oil ticks higher after China moves to support flagging economy
Oil ticks higher after China moves to support flagging economy
Source: Reuters
28/08/2023 9:07:48 AM
Coal Ministry plans pump storage projects on closed mines for hydro energy In a major diversification plan, Coal India Limited (CIL) and its subsidiaries are planning to set up pump storage projects (PSP) on huge tracts of decoaled (closed mines) lands at their disposal. According to highly placed sources, the plan to set up such projects in the first phase will be finalised in a month’s time, as the central government is quite bullish over such projects. Part of the coal ministry’s ambitious plans is to diversify towards alternate sources of energ...
Coal Ministry plans pump storage projects on closed mines for hydro energy
Coal Ministry plans pump storage projects on closed mines for hydro energy
Source: IANS
27/08/2023 10:43:42 AM
BP urges more oil, gas investment while speeding energy transition Global oil major BP said the world must invest in the production of oil and gas to avoid to sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions. Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia's invasion of Ukraine, forcing countries to boost energy spending and shift to coal, BP CEO Bernard Looney said in New Delhi. "We need to do both. We need to invest in today's energy system...
BP urges more oil, gas investment while speeding energy transition
BP urges more oil, gas investment while speeding energy transition
Source: Reuters
27/08/2023 8:52:08 AM
Government imposes 20% export duty on parboiled rice with immediate effect  Just days after assuring that there are no plans to restrict export of non-Basmati parboiled rice, the Centre late on Friday imposed 20 per cent export duty on par-boiled rice with immediate effect. The decision was taken to curb the rising prices of rice, and it comes at a time when food inflation for July had skyrocketed to 11 per cent, pushing the retail inflation for the month to 7.44 per cent. The decision to impose a 20 per cent export duty on parboiled rice will make purcha...
Government imposes 20% export duty on parboiled rice with immediate effect
Government imposes 20% export duty on parboiled rice with immediate effect
Source: IANS
26/08/2023 6:11:50 PM
India expands curbs on rice exports with 20% duty on parboiled grade India has imposed a 20% duty on exports of parboiled rice with immediate effect, a move that could further reduce shipments from the world's largest exporter and lift global rice prices, which are already trading near their highest levels in 12 years. Last month, India surprised buyers by imposing a ban on exports of widely consumed non-basmati white rice, following a ban on broken rice exports last year. The ban prompted some buyers to increase purchases of parboiled rice and lifte...
India expands curbs on rice exports with 20% duty on parboiled grade
India expands curbs on rice exports with 20% duty on parboiled grade
Source: Reuters
26/08/2023 9:47:26 AM
Gold prices near two-week highs Gold prices steadied near two-week highs and was headed for their best week in six ahead of mixed economic data from the US and as market participants await comments from Governors of major central banks. including Federal Reserve Governor Powell, that could guide on future interest rates, says Navneet Damani, Senior VP, Commodity Research at Motilal Oswal Financial Services. The US 10 year Yield after dropping by more than 2 per cent in the earlier session is inching higher once again, Do...
Gold prices near two-week highs
Gold prices near two-week highs
Source: IANS
25/08/2023 4:22:08 PM
Commodity Article : Gold likely to end higher for the week; Oil heads for weekly fall on demand worries Says Prathamesh Mallya, Angel One Below is Gold Article by Mr. Prathamesh Mallya, DVP Research, Non-Agro Commodities & Currency, Angel One Ltd.    Gold likely to end higher for the week; Oil heads for weekly fall on demand worries. GOLD Amidst a resilient dollar and rising bond yields, gold prices maintained stability on Thursday. Investors displayed caution in anticipation of Federal Reserve Chair Jerome Powell's address at the Jackson Hole symposium. The symposium, a...
Commodity Article : Gold likely to end higher for the week; Oil heads for weekly fall on demand worries Says Prathamesh Mallya, Angel One
Commodity Article : Gold likely to end higher for the week; Oil heads for weekly fall on demand worries Says Prathamesh Mallya, Angel One
Source: Angel One Ltd
25/08/2023 10:35:55 AM
Geopolitical uncertainty offers support to gold prices The ongoing geopolitical and economic uncertainties like higher inflation, China economic jitters, and the pandemic-related economic distortions amid the Russia – Ukraine war continue to offer support to the safe haven status of gold in the immediate run, said Hareesh V, Head of Commodities at Geojit Financial Services. Hopes of a demand recovery from India may also contribute to the trend. However, it is unlikely for major rallies due to uncertainties over US rate hikes and the perf...
Geopolitical uncertainty offers support to gold prices
Geopolitical uncertainty offers support to gold prices
Source: IANS
25/08/2023 10:06:27 AM
Gold bound for best week in six, spotlight on Jerome Powell's speech Gold prices steadied near two-week highs on Friday and was headed for their best week in six as U.S. Treasury yields backed off highs ahead of speeches by top central bankers including Fed Chair Jerome Powell that could guide on future interest rates. FUNDAMENTALS * Spot gold was down 0.1% at $1,915.89 per ounce by 0120 GMT, holding below its highest since Aug. 10 hit on Thursday. It has gained 1.4% for the week so far. * U.S. gold futures fell 0.2% to $1,943.90. * European Centra...
Gold bound for best week in six, spotlight on Jerome Powell's speech
Gold bound for best week in six, spotlight on Jerome Powell's speech
Source: Reuters
25/08/2023 9:24:37 AM