Due to predictions that OPEC+ would expand or intensify production restrictions, crude oil prices ended the day up 1.17% at 6488. Market anticipation has increased due to ongoing discussions within OPEC+ about the oil policy for 2024; there is no anticipated delay to the planned meeting on Thursday. Previous difficult OPEC+ production quota discussions, most…
For the third day in a row, the rupee continued to gain strength and in early trade on Thursday it gained 2 paise to 83.30 against the US dollar, following encouraging signals from the equity markets and the continued inflow of foreign funds. Crude oil prices, according to forex dealers, were restrained by the significant…
Turmeric prices fell -2.45%, closing at 12910, as purchasing activity decreased in advance of the anticipated release of stockpiles ahead of the fresh crops in January 2024. The better crop conditions brought about by the excellent weather added to the pressure on pricing. Maharashtra farmers’ attitudes were affected when they learned that Prime Minister Modi’s…
A 200 MW firm and dispatchable renewable energy (FDRE) project from SJVN Ltd. has been awarded to Tata Power Renewable Energy Ltd. (TPREL). As to Tata Power’s regulatory filing, FDRE offers continuous power supply and aids distribution companies in fulfilling their renewable purchase requirement (RPO) and energy storage obligation (ESO). “Tata Power Renewable Energy Limited…
As worldwide primary aluminium output climbed 3.9% YoY to 6.116 million tonnes in October, prices for the metal stayed stable at 203.45, according to figures from the International Aluminium Institute (IAI). China’s main imports of aluminium from January to October increased 173% year over year to 1.17 million metric tons, while exports fell 41.19% to…
Cottoncandy’s price of cotton saw a slight uptick of 0.11%, ultimately settling at 57160. The Cotton Association of India (CAI) revised its cotton output estimate for the current 2023/2024 season to 29.4 million bales, which is credited with the upswing. The amendment mentioned plant uprooting by farmers and infestations of pink bollworms as causes of…
Due to a lack of signals on both the domestic and international fronts, the rupee’s volatility is still modest. In the domestic arena, the rupee was sustained and its gains throughout the intraday session were reinforced by flows relating to the initial public offering. Simultaneously, the rupee received assistance from the dollar index’s decline. The…
Copper prices saw a -0.48% decrease at the close, closing at 718.85, as worries over demand reappeared in the wake of disappointing Chinese statistics. October saw a third straight month of improvement in China’s industrial earnings, although the annual growth rate decreased to 2.7%. This number represented a notable slowdown from the 17.2% gain in…
Prices for cotton candy fell by -0.66% to settle at 57100, mostly due to persistent concerns about demand. The Cotton Association of India (CAI) predicts that reduced planted acreage and productivity issues brought on by El Nino weather patterns will result in a 7.5% decrease in India’s cotton production for the 2023–2024 season, hitting 29.5…
The largest producer of gas and oil in India, ONGC, has entered into long-term agreements with refiners to sell the crude oil it extracts from offshore resources in Mumbai at a premium to the global benchmark Brent, according to sources. The Oil and Natural Gas Corporation (ONGC) has agreements with Bharat Petroleum Corporation Ltd (BPCL)…
