Crude prices were down 0.65% to settle at 5,839, as concerns over future demand and fears of supply disruptions weighed on the market. Both the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) have cut their forecasts for global crude demand in 2024 and 2025. Weak economic data from China,…
The Indian government has raised minimum support prices (MSP) for seven rabi crops for the 2025-26 marketing season, with mustard and rapeseed being the most affected. The increase is expected to ensure remunerative prices for farmers and encourage crop diversification. Wheat’s MSP has been raised by Rs 150 per quintal. To reduce import dependence on…
Gold prices hit record highs on Friday, helped by an interest rate cut by the European Central Bank just weeks before the US presidential election. Spot gold rose 0.8% to $2,713.18 an ounce, while gold futures for December expiration rose 0.8% to $2,728.30 an ounce, both hitting record levels on Friday. Silver prices broke out…
Jeera prices dropped by 0.36% to 24,935 due to increased supply and pressure from ongoing arrivals. 30% of cumin stocks are held by farmers, with daily arrivals in Unjha ranging from 12,000 to 17,000 bags. Despite the pressure, the export market remains active, with prices quoted between $3,150 and $3,200 per tonne. Demand is particularly…
Natural gas prices fell 1.4% yesterday to settle at 197.6, as forecasts of milder weather over the next two weeks indicated less than normal heating demand. Meteorologists predict warmer-than-normal temperatures in the Lower 48 U.S. states through Nov. 1, which will reduce natural gas consumption. As a result, LSEG forecasts that average gas demand, including…
Copper prices rose by 0.48% to ₹821.05, driven by a softer dollar and short-covering activity. China’s pledge to increase debt and stimulate growth boosted sentiment, but it lacked specific details on the stimulus and limited enthusiasm. China’s weaker-than-expected September trade data raised concerns about demand, while the US Federal Reserve’s cautious interest rate cuts weighed…
Oil prices rose in Asian trade on Thursday, recovering some ground after several days of bruising losses as industrial data showed that US inventories marked an unexpected balance last week. Brent oil futures for December delivery were up 0.6% at $74.67 a barrel, while West Texas Intermediate crude futures were up 0.6% at $70.27 a…
Jeera prices dropped by 1.7% to 25,500 due to expectations of higher production this season. However, the downside was limited due to strong domestic and export demand, tight global supplies, and farmers holding back stocks. Gujarat and Rajasthan saw increased sowing areas, leading to a 30% higher production forecast. China’s cumin production surged to over…
Oil prices rose slightly in Asian trade on Wednesday, steady after posting bruising losses last week as less severe increases in the Middle East and weaker demand weighed. Oil prices fell more than 4% after Israel said in a statement it would not attack Iran’s oil and nuclear facilities. Brent oil futures for December were…
The introduction of cotton seed wash oil futures was announced by the top commodities exchange, MCX, on Tuesday. According to a statement from MCX, each contract will have a trading unit of five tonnes, with a base value quoted in rupees per ten kilograms at Ex-Tank Kadi, Gujarat. Participants have inexpensive access to hedging because…
