Brent crude fell 49 cents, or 0.5%, to $90.16 a barrel by 0022 GMT while U.S. West Texas Intermediate crude was at $86.77 a barrel, down 74 cents, or 0.9%.
Traders may remain cautious ahead of critical data releases from China, while simultaneously hoping for more stimulus measures in light of consistently weak data releases and widespread losses among domestic property developers
NSE had rolled out rupee rupee-denominated NYMEX WTI crude oil and natural gas futures contract on May 15, 2023.
Slowing demand from China coupled with rise in production and inventories means that base metals are losing favour. Adding to the woes is the fact that the Dollar index (DXY) has gained in strength and investors are keeping an eye out for the speeches from Federal Reserve. CME Fedwatch Tool suggest a 93% chance of Fed leaving rates unchanged in Sept. Manisha Gupta discusses these details with Ajay Kedia, Founder of Kedia Commodities on this episode of Commodities Corner
According to Geojit, Maharashtra has reported total area under kharif crops, as on Monday, at 14.1 mln ha, amounting to 98.9% of the normal area of 14.2 mln ha.
Brent crude futures slid 33 cents, or 0.4%, to $89.59 a barrel by 0050 GMT, while U.S. West Texas Intermediate crude (WTI) futures declined 33 cents, or 0.4%, to $86.54.
Pulses prices trade firm on low sowing acreage. Sowing of Kharif pulses is lower by 8 per cent this year. This can potentially lead to a spurt in prices in the coming months as well. The combination of elevated levels of crude oil prices and rapidly weakening rupee is already seen disturbing the so far benign inflation situation. The Government Of India is also stepping in to ensure availability and affordability of pulses. How will this play out in the commodity market? Catch Manisha Gupta in conversation with Bimal Kothari, Chairman, IPGA only at Commodities Corner.
According to Geojit, Maharashtra has reported total area under kharif crops, as on Monday, at 14.1 mln ha, amounting to 98.9% of the normal area of 14.2 mln ha.
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.
Crude oil prices which have settled at a 10-month high, with brent crude touching that $90/bbl mark. This after Saudi Arabia and Russia decided to extend their voluntary supply cuts to the end of the year. Apart from the supply cuts the prospects of the U.S. economy avoiding a hard recession have helped lift oil demand. So will crude oil prices soar further to touch $100/barrel? And how will India which is a major crude importer be impacted? Manisha Gupta discusses the repercussions of soaring crude prices with Anuj Gupta of HDFC Securities in this edition of Commodities Conrner
According to Geojit, Farmers in Gujarat have sown kharif crops over 8.45 mln ha as of today, up 1.5% from 8.32 mln ha a year ago, according to state government data.
Brent crude futures rose by 17 cents, or 0.2%, to $90.21 a barrel at 00:08 GMT. It crossed the $90 mark for the first time since November on Tuesday in the sixth straight day of gains.
The world’s largest annual gross crude oil importer and the key driver of broader commodities super-cycle, China’s ongoing attempts to resuscitate its economic growth will play a key role in formulating oil pricing. There is also expectations of an extension in supply cuts by two leading OPEC+ members — Saudi Arabia and Russia. How will this play out in the commodity market? Manisha Gupta speaks with Dinesh Somani, Founder of ProIntellitrade Services.
According to Geojit, Farmers in Andhra Pradesh have sown kharif crops over 2.05 mln ha as of Wednesday, down 25% from 2.73 mln ha last year, according to data from the state government.
Brent crude futures for November fell 10 cents, or 0.11%, to $88.90 a barrel. U.S. West Texas Intermediate crude (WTI) October futures rose 33 cents, or 0.39%, to $85.88 at 0029 GMT.
Pump prices were driven up by the cost of oil as producer group OPEC and its allies curbed output
According to Geojit, The area under kharif crops across the country in the 2023-24 (Jul-Jun) season so far is at 107.8 mln ha, a tad higher than 107.3 mln ha a year ago, according to data from the Department of Agriculture and Farmers Welfare.
According to Geojit, The area under kharif crops across the country in the 2023-24 (Jul-Jun) season so far is at 107.8 mln ha, a tad higher than 107.3 mln ha a year ago, according to data from the Department of Agriculture and Farmers Welfare.
While Nifty50 companies struggled to post single-digit returns in August, two varieties of pulses zoomed up to 22 percent during the month.
China impressed the markets this week by allowing some of its largest cities to reduce down payments for homebuyers and encouraging lenders to lower rates on existing mortgages and deposits.
From seeing Mumbai for the first time in 1987 to building a company with an turnover of Rs 15,000, watch the story of the glittering rise of diamond manufacturer Hari Krishna Exports in our brand new series, Commodity King!
Prices of most base metals are rallying as China rolled out more measures to support its yuan and property market, a key demand sector for metals. Beijing has issued a raft of measures to revive its crisis-hit property market. Base metals that form raw material for contstruction activity are seeing a good run up. Iron ore prices are at a 5-week high, Steel at 1 month high, while Aluminum at 3-week high. Manisha Gupta discusses trade in base metals with Navneet Damani of Motilal Oswal on this edition of commodity corner
According to Geojit, Data from the Department of Agriculture and Farmers Welfare show that 105.4 million hectares of land have been planted with kharif crops so far in the 2023–24 (Jul–Jun) season, up from 105.0 million ha during the same time last year.
Ajay Goyal of Shivaji Flour Mills discusses why wheat prices have surged in India and what is expected from the govt to regulate it.
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.