According to a PTI report, India’s merchandise trade deficit shrank to $27.1 billion in February from $34.68 billion in January. In January, merchandise exports increased slightly to $36.61 billion from $36.56 billion, while imports decreased to $63.71 billion from $71.24 billion. India’s exports increased by 1.8% to $402.93 billion between April and February of this…
Oil prices were mostly unchanged in Asian markets on Monday after last week’s gains. This was due to the stalled US-Russia talks on the Ukraine issue and hopes that the Federal Reserve would cut interest rates this weekend. Recent US-led talks have failed to resolve the Russia-Ukraine standoff. Markets are pricing in an 88% chance…
With import levels tracking at 1.62 million barrels per day in October, up from 1.61 mbd in September, Russia continued to be India’s top supplier of crude oil, according to statistics from Kpler. However, compared to 1.75 mbd in October 2024, Russian oil imports fell 8% annually. Saudi Arabia and Iraq emerged as India’s two…
Natural gas prices rose by 2.09% to reach 273.3, driven by weather forecasts and geopolitical developments. Persistent heat in key US regions, coupled with the President’s acceleration of the Ukraine ceasefire deadline for Russia, has boosted air conditioning use and power sector gas consumption. Despite rising prices, supply remains robust, with average output in the…
Aluminum prices rose 0.42% to settle at 253.45, supported by renewed confidence in China’s policy measures aimed at bolstering key industries such as machinery, automobiles, and electrical appliances—all major consumers of aluminum. This optimism helped offset the impact of softer short-term demand. Data from the International Aluminum Institute showed global primary aluminum output increased 0.9%…
Zinc settled higher by 1.16% at 260.8, driven by a softer dollar and supply tightness overseas. However, concerns about global demand growth and new U.S. tariffs have stoked uncertainty across metals markets. The Biden administration’s tariff notices, targeting 14 countries with rates ranging from 25% to 40%, effective August 1, have stoked uncertainty. U.S. President’s…
Natural gas prices rose by 5.51% to settle at ₹306.6 due to a decline in output and revised demand forecasts. Production in the Lower 48 US states dropped to 103.0 billion cubic feet per day in early May, and daily output is projected to dip further to a two-month low of 102.6 bcfd. Gas demand…
Jeera prices dropped -0.22% to 25,220 as a result of a spike in arrivals; in Unjha, about 15,000 bags of cumin are delivered every day. An estimated 20 lakh bags of carryover stock are anticipated at the start of the next season, with farmers keeping about 35% of the supply. Nevertheless, there is hope for…
After rising more than 2% the previous day as OPEC+ postponed plans to increase production in December, oil prices moved in a narrow range on Tuesday amid what is predicted to be an unusually close US presidential election. U.S. West Texas Intermediate crude added 13 cents, or 0.18%, to $71.6 a barrel, while Brent crude…
Crude oil prices rose by 2.83% to 5,988, driven by higher-than-expected US fuel demand and OPEC+’s potential delay in an output hike. U.S. gasoline inventories reached a two-year low, while crude inventories drew down by 0.515 million barrels, contrasting with a 2.3 million-barrel build. Cushing, Oklahoma crude stocks rose by 0.681 million barrels. The U.S….
