Due to a sharp increase in the cost of the US H-1B visa, which is predicted to have a significant negative impact on Indian IT services exports, the rupee fell 47 paise to reach an all-time low of 88.75 (provisional) against the US dollar on Tuesday. Forex dealers reported that as market participants examined the…
Natural gas prices rose by 3.12% to 274.1 despite a drop in daily output. The rise was despite forecasts for softer demand, ample storage, and stagnant LNG export flows. The average gas output in the Lower 48 states declined to 107.4 billion cubic feet per day in September, down from a record high of 108.3…
The International Energy Agency (IEA) predicts that global oil output will rise by 2.7 million barrels per day in 2025, compared to a previous estimate of 2.5 million bpd. The figure is expected to increase by 2.1 million barrels per day in 2021. However, the outlook for supply is facing conflicting trends, with the possibility…
Natural gas prices dropped by -0.47% to 272.6 on MCX due to abundant supply, near-record production levels, and forecasts of milder weather. Output in the Lower 48 states averaged 107.5 billion cubic feet per day in September, down from the August record of 108.3 billion cubic feet per day. Production dropped to a preliminary eight-week…
Natural gas prices rose by 1.86% to ₹273.9 due to declines in output and increased flows to LNG export plants. Freeport LNG’s plant in Texas is expected to return soon, bolstering export capacity. Despite forecasts of lower demand and abundant gas in storage, prices remain firm. Average gas output in the Lower 48 states fell…
Oil prices in Asian trade rose on Monday due to optimism over tighter supplies and heightened uncertainty over the Russia-Ukraine war. OPEC+ agreed to raise production in October at a slower pace than in previous months, raising output by 137,000 barrels per day. Brent oil futures for November rose 0.6% to $65.90 a barrel, while…
Crude oil prices fell by -2.63% to 5,634 as traders positioned cautiously ahead of the OPEC+ meeting, which may decide on further production hikes from October. The group, which accounts for about half of the world’s oil supply, is considering unwinding another layer of output cuts, amounting to 1.65 million barrels per day, more than…
Turmeric prices dropped by -2.21% at 12,230 due to higher acreage expectations. Monsoon conditions have supported timely sowing, with estimates suggesting a 15-20% increase in turmeric acreage. For the 2024-25 season, cultivation has reached 3.30 lakh hectares, a 10% increase from last year. However, farmer-held stocks in Warangal are nearly exhausted, and no fresh arrivals…
India is set to purchase a record volume of cotton from farmers in the new season due to weaker demand and cheaper imports. The government raised the minimum support price (MSP) by 7.8% to ₹8,110 per 100 kg, but market prices remain around ₹7,000. The Cotton Corporation of India (CCI) is preparing to buy unlimited…
Jeera futures fell by 0.74% to 19,320 due to weak domestic and export demand. Foreign buyers remain inactive, and comfortable stock levels and tepid overseas interest are keeping prices under pressure. Farmers hold around 20 lakh bags of cumin, but only 3-4 lakh bags are expected to be traded before the season closes. India’s cumin…
