Despite concerns about global demand, oil prices rose on Thursday on expectations that a forthcoming US interest rate cut would boost economic activity and boost fuel consumption. Brent oil futures recovered some losses from the previous day, rising 17 cents, or 0.21%, to settle at $79.93 a barrel. U.S. U.S. West Texas Intermediate crude was…
During the first three months of the oil year 2023–24, beginning in October, soya bean offtake by the domestic feed and food sector has been slow. The feed sector consumed 18.5 lakh tones (lt) during the October–December period, according to the most recent figures provided by the Soybean Processors Association of India (SOPA). This is…
The optimistic developments in China’s policy support for its economy caused copper prices to marginally decrease by -0.05%, ultimately finishing at 729.5. China’s central bank gave a strong signal of support for the nation’s weak economy when it announced a significant reduction in bank reserves, bringing in approximately $140 billion to the banking sector. Furthermore,…
Aluminum posted a strong performance, rising 2.42% to 203.1 points, on optimism of further stimulus in top metals consumer China. China and the government have promised to inject more funds into the capital market to stabilize confidence, potentially mobilizing around 2 trillion yuan to support the stock market slump. According to a report by the…
