Oil prices rose on Tuesday on concerns that rising tensions in the Middle East could hit supplies from the major producing region, while a major hurricane loomed over the world’s biggest crude producer, the United States. Brent crude futures for November delivery were up 69 cents, or 0.93%, at $74.59 a barrel. US WTI crude…
Gold prices reached record highs on Monday due to the U.S. Federal Reserve’s interest rate cut and signs of further reductions. Spot gold remained near $2,619.37 per ounce, while U.S. gold futures edged 0.1% lower to $2,643.90. The Fed began easing monetary policy with a half-percentage-point rate cut on Wednesday, forecasting a further half-point reduction…
Oil prices rose on Monday, buoyed by concerns that heightened conflict in the Middle East may curtail regional supply and expectations last week’s outsized U.S. interest rate cut will support demand. Brent crude futures for November were up 60 cents, or 0.8% at $75.09 a barrel . U.S. crude futures for November were up 64…
India’s palm oil production is expected to triple in six years due to increased area under oil palm plantations and mature plantations for harvesting. The world’s largest edible oil importer relies on Indonesia, Malaysia, and Thailand for palm oil supplies. An increase in production will help India reduce edible oil imports, which account for nearly…
Oil prices settled lower on Friday but recorded a second straight week of gains, garnering support from a U.S. interest rate cut and a dip in U.S. supply. Brent futures settled down 39 cents, or 0.52%, at $74.49 a barrel. U.S. WTI crude futures settled down 3 cents, or 0.4%, to $71.92. Signs of a…
India’s rice production is expected to be higher this year despite heavy rains and flooding in some states, according to the Agricultural Minister. The country is also considering easing curbs on non-basmati rice exports as inventories in the world’s biggest exporter of the grain surge and farmers are set to harvest a new crop in…
Following a significant reduction in U.S. interest rates and a drop in global stocks, oil prices were expected to conclude the week higher for the second consecutive week. They were little moved in early Asian trade on Friday. Brent futures have gained 4.3% this week and were trading 19 cents, or 0.3%, lower at $73.69…
Gold prices moved in a lower range in Asian trade on Thursday. The strength of the dollar weighed on gold prices as US interest rates did not fall as expected in the medium to long term. The yellow metal took some gains after touching a peak ahead of Wednesday’s Fed decision. Spot gold rose 0.1%…
India’s wheat prices have risen during the festival season, despite curbs on traders and processors. New Delhi recently reduced the limit of wheat stocks traders and millers can hold to boost availability and moderate prices. However, these measures have not reduced prices, which are currently trading at 28,416 rupees ($339.53) per metric ton in New…
Oil prices stabilized on Wednesday as investors await the US Federal Reserve’s anticipated interest rate cut and the potential for more violence in the Middle East. Brent crude futures for November dropped 3 cents to $73.67 a barrel, while U.S. crude futures for October slid 11 cents to $71.08 a barrel. After Hurricane Francine, both…
